Russia has reportedly planned to roll out a facility for crypto mining worth more than 900 million rubles or USD 12.3 million in the proximate future.
As reported by RBC, a local Russia-based media outlet, in the coming months of 2023, the impressive center for data processing will have its headquarters in the Eastern part of Siberia, a Russia-based republic called Buryatia. Once it is completed, the system will reportedly have the capacity to store 30,000 mining rigs, whose total consumption of energy is projected to reach 100 MW (megawatts).
RBC also shared that the KRDV will oversee the new mining project. KRDV is a company affiliated with the Russian government, supervised by the Russian Ministry in charge of developing the Artic and Far East Russian regions. Also, the Plenipotentiary Representative in charge of the same regions will also have authority over the project.
The KRDV has released a statement concerning Bitriver-B beginning to develop the project. Bitriver is the largest Russian mining company. Its operational unit, Bitriver-B started to lay down some groundwork after installing important infrastructure and enabling critical power facilities. The mining rigs are projected to be completed in H1 of 2023, leading to 100 new jobs.
KRDV was created in 2021 with the purpose of driving the infrastructural and economic development of the Far East of Russia via encouraging investment initiatives in multiple fields, such as health, tourism, or energy.