For a bitcoin mining company would have a market share of 20% of the gain in the global mining market. Write a variety cryptomedia today, according to Russian media reports.
Dmitry Marichinev is a man of many talents: in Russia, he is formally the ombudsman, the internet, to deal with complaints from the public about the government’s dealing with.
However, he is also the CEO of a Russian Mining Company (RMC), is a manufacturer of mining equipment, and the owner of the mining farms. His ambition is to make Russia in addition to China as a mining nation on the map.
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Plant
Marichinev his attention to a former aluminum factory in Karelia, a federal state in the north-west of Russia. This is called the Nadvoitsky Aluminum Plant (NAZ) was lost when the Us government is the parent company of Rusal in april 2018 and the sanctions had imposed. Us customers cancelled their contract with this supplier.
The former owner Oleg Deripaska would be close ties with the government of vladimir Putin. The department of Finance to be Deripaska as a typical oligarch, a person in the early nineties with the transition from communism to capitalism, a lot of (non -) power is gained.
The business has been the majority’s Rusal of the process. For the Americans, the sanctions are lifted, but the production was never started.
An area of the site, it is now rented out to PROVIDE, as confirmed by a spokesman for Rusal to the Russian media, RBC.
Data center
Marinichev will be the excess of the plant’s electricity use for a huge data center. As he explains:
“We want to have the plant re-engineering and the computing power of the network selling as one of the IT-department
This is aimed for the company of miners of the bitcoin and other cryptovaluta, but also to the developers of the neutral networks and artificial intelligence (AI).
‘Bitcoin mining profitable
Marinichev has entered into a collaboration with the British cryptobeurs Cryptonex that clients are hoping to recruit. As I said, he wants to be, with a market share of about 20%. Mining is still profitable.
A simple calculation shows that:
Every ten minutes a new block on the bitcoin network are mined
Each and every month, that’s more than 4,300 blocks
The current block reward of 12.5 BTC, and the current price of $9.465 is the total sales by miners are about. The 510 million u.s. dollars
About 20 percent of that total, supplies revenues of $102 million.
The estimated cost per BTC is in the range of $2.700 to $3.500 per BTC
According to Yuri Pripachkin, the president of the crypto and the blockchain association RACIB is bitcoin mining profitable, and for each link in the supply chain.
A lot of it is, however, dependent on the electricity price. Logically, a search of miners for the areas with the lowest cost per kilowatt-hour of electricity.
Pripachkin, it is, however, sceptical:
“There’s been a lot of players in the world of mining. Russian mining pool might be 5 to 7 percent to account for it.
The Chinese domination
Reportedly, it is still less than 50% of all the bitcoins from the Chinese province of Sichuan, where over the past few years, many hydropower plants have been built. That is, it would appear from a study of the Coinshares. The local experts in this area of China even all over ‘70% of all bitcoin’.
However, there is a trend going on elsewhere in the world, such as North Europe, the Caucasus, Iran, and Canada, but also in some southern states, such as Texas and Georgia, have to go to mine.
Today, the Chinese miner Canaan Creative is a request made by the united states Securities and Exchange Commission (SEC) submitted a listing of techbeurs Nasdaq stock exchange. The company intends to $400 million into the business to further growth and to fund it.
Sources: Bitcoinist / Cointelegraph
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