Russia Imports 20,000+ Bitcoin Miners - Exclusive Report.

Russia Imports 20,000+ Bitcoin Miners - Exclusive Report.

2021-02-10 | Big Bob

Russia Imports 20,000+ Bitcoin Miners - Exclusive Report.

Russia has reportedly ordered several thousands of crypto miners amid a huge surge within the cryptocurrency market. A senior executive at BitRiver, the leading cryptocurrency mining colocation services provider within Russia, revealed that a native client received over 20k+ cryptocurrency mining devices, Russian press agency Kommersant reports today on 10th Feb. BitRiver founder and CEO Igor Runets added that the entire mining power of the imported hardware amounts to 70 MWh, which is reportedly estimated to form up the highest single batch of cryptocurrency mining hardware installed till date within Russia. Runets also added that the hardware was delivered earlier in December 2020 and was immediately employed for Bitcoin [BTC] mining in Bratsk - a city in Russia that has one among the country’s largest hydropower stations. Runets said that the mining rigs were imported from Asia. A spokesperson from BitRiver told that the firm cannot disclose either the name of the Russian client or the precise country that exported the hardware. The representative added that the mining data center was established at one among BitRiver’s locations. BitRiver didn't disclose the precise sort of cryptocurrency miners imported. Consistent with Kommersant, the imported batch was priced between $40 Mln To $60 Mln. Despite Russia adopting its cryptocurrency law “On Digital Financial Assets” earlier in January 2021, there's a particular level of uncertainty about cryptocurrency mining within the country as the law doesn't actually offer a transparent regulatory framework for the industry. Earlier in September this year, the native authorities even proposed to ban Russian cryptocurrency miners from receiving payment for any mining crypto.

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