November 1, 2019 by Xavier
Closed from April 2018 in the wake of the u.s. sanctions, the aluminum plant Nadvoitsky (NAZ) of Karelia, Russia, could be reborn in site of mining of crypto-currencies in the coming years following the ambitions of the Russian Mining Company (RMC). This company is looking to undermine the bitcoin in Russia and aspires to a larger market share, blasting the order of 20% in the world.
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An aluminum factory converted into a center of mining of the Bitcoin ?
The Russian Mining Company (RMC) is seeking to hire a piece of ground in the aluminium factory Nadvoitsky to expand its activities in crypto-mining. Apparently, the company would seek to create a digital hub on the site in order to sell computing power abroad.
Very excited about this project, Dmitry Marichinev, a responsible officer of the RMC, said :
“At present, the plant of Rusal, the parent company of NAZ, is no longer profitable, the electricity supplied to it is practically not used, and the inhabitants in the vicinity of the city mono-industrial have more work to do. Our idea is to think of the factory : to sell its computing power as a service, that is to say, provide it as a service “.
Control 20% of the world market of the mining operations of bitcoin
This move is part of an ambitious project, aiming to supply 20% on the mining market of Bitcoin, which would be currently $ 101.5 million.
To do this, the company has partnered with the crypto-exchange Cryptonex based in the United Kingdom.
For his part, Yuri Pripatchkin, the president of the Russian Association of the crypto-economy and the Blockchain (RACIB) estimates that the mining of virtual currencies would be always beneficial for any person who is involved in it.
However, it still think that it also depends on the cost of electricity.
“In Moscow, the price of electricity are quite high, and it is only for this reason that the placement of the equipment, blasting also may prove to be more profitable,” sums up there.
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