Russia Association Seeks Bitcoin Miners


A public association in Russia focused on representing the interests of the cryptocurrency industry in the country has announced a new project for attracting Bitcoin miners onto Russian soil.

According to the project, headed by the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (RACIB), the characteristics of the Russian Federation’s energy production can be attractive for bitcoin mining operations.

It claimed that excess electricity might amount to over 50% of power plants’ capacity, depending on the region. And besides plugging into otherwise wasted power, Bitcoin miners could also enjoy free cooling from the country’s cold climate, accessing higher energy efficiency.

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