Big moves are happening within the bitcoin mining industry in Russia. An unnamed miner sent what seems to be the largest single batch of mining equipment to the country.
Delivery Took Place at the End of 2020
According to Kommersant, the unknown miner shipped almost 20,000 devices on 14 trucks, which have a total power capacity of 70 megawatts. The media outlet’s estimations show that the hardware shipped from Asia is worth approx. between $40 million and $60 million.
The Bitriver-powered data center is located in Irkutsk, the largest city of Irkutsk, in the Siberian Federal District, with over 600,000 residents.
Citing Igor Runets, CEO and founder of Bitriver data center, says that the delivery took place at the end of 2020, specifically in December. Right after the shipping, the data center’s staff installed the rigs to mine bitcoin (BTC).
Hardware From Four Major Manufacturer Brands
Runets also added that they deployed a separate hangar in Bratsk, in the same region, which will act as a tier-III level data center to provide “very high safety” to the rest of the batch. The ASIC-based equipment brands acquired include Bitmain, Whatsminer, Innosilicon, and Avalon, said the Bitriver data center’s CEO.
Artyom Eremin, the head of Chilkoot — one of the official distributors of crypto mining equipment in Russia — said the costs of the recent Bitriver’s acquisition could reach $50 million. However, he estimated using last year’s price before the surge of bitcoin’s quote across markets.
What do you think about this crypto mining move in Russia? Let us know in the comments section below.
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The recent influx of mining equipment into Russia marks a significant turning point for the bitcoin mining industry in the region. The shipment of nearly 20,000 devices, capable of generating 70 megawatts, highlights both the growing demand for bitcoin mining and the strategic advantages offered by Russia, such as lower electricity costs. The involvement of major manufacturers further underscores the scale and seriousness of these operations. It will be interesting to observe how this development influences the competitive landscape of cryptocurrency mining globally, especially as Russia positions itself as a potential mining powerhouse. The establishment of facilities like the Bitriver data center could attract more investment and innovation in this sector.
It’s fascinating to see how the bitcoin mining landscape is evolving, especially with Russia stepping up its game. The influx of nearly 20,000 devices certainly shows that there’s a significant push to capitalize on the lower electricity costs and other strategic benefits. It brings to mind how different regions can play into the broader narrative of cryptocurrency’s adoption and sustainability.
It’s fascinating to think about how Russia’s move into the bitcoin mining space could reshape the industry. The sheer scale of the shipment you mentioned really highlights not just the demand for mining, but also how countries are starting to recognize the unique advantages they can offer. Lower electricity costs are certainly a huge draw, and it kind of speaks to this larger trend we’ve seen where energy resources are becoming a pivotal factor in where mining operations set up shop.
It’s fascinating to see such a substantial shift in the bitcoin mining landscape in Russia. The recent shipment of nearly 20,000 mining devices marks a significant investment in the country’s digital currency infrastructure. With a power capacity of 70 megawatts, this delivery truly illustrates the growing interest and commitment to bitcoin mining in places like Irkutsk.
The recent developments in the Russian bitcoin mining industry are truly invigorating! The shipment of nearly 20,000 mining devices marks a significant milestone, and it’s fascinating to see such a substantial investment pouring into this sector. With the power capacity reaching 70 megawatts, this isn’t just a step forward; it feels like a leap toward solidifying Russia’s status as a powerhouse in the global crypto mining scene.
It’s fascinating to see such massive movements in the bitcoin mining sector, especially coming out of Russia. That recent shipment of nearly 20,000 mining rigs is a game-changer, and it’s intriguing to consider the effects it might have on the global crypto landscape. The sheer scale of it—70 megawatts of power—is impressive and indicates a serious commitment to increasing mining capacity at a time when the industry is evolving rapidly.
The recent developments in Russia’s bitcoin mining sector are nothing short of exhilarating! The arrival of nearly 20,000 mining devices, with a staggering power capacity of 70 megawatts, signifies a monumental shift in the landscape of cryptocurrency mining. The estimated value of this shipment, ranging from $40 million to $60 million, highlights the serious investment that miners are making to bolster their operations.