Siberia: Russia’s Bitcoin Mining Industry Takes Root


Bitriver is a firm founded in the city of Bratsk which is located in Siberia. The data centre benefits from the climate of Siberia. In a building located few kilometers from the hydroelectric dam of the Bratsk —city located in Siberia, Russia— operates a company called Bitriver. It is a data center dedicated solely to the mining of Bitcoin and other Cryptocurrencies. In the present Bitriver owns the title of the largest farm mining all over Russia.

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Bitriver was founded a year ago by Oleg Deripaska Russian multimillionaire, known as the czar of aluminum, for chairing one of the most important companies in the world of the raw material, the RUSAL. According to statements of the representative of Bitriver to Bloomberg, Deripaska was planning to build a mining farm since five years ago; even to be affected by your project then being sanctioned by the united States in the year 2018.The company is not engaged in mining per se, because their representatives are not the ones that break through the blockchain, but that offer their services to third parties. Because of this, Bitriver is described as a data center that provides access to mining equipment and technical services to third parties.

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The differentiation is made because the Cryptocurrencies are not strictly legal in Russia and even in a time were prohibited. In the present Bitriver have customers in the United States, China, Japan, India and even Brazil, which undermine most Cryptocurrency and especially Bitcoin. The company has secured and operates with an electrical capacity of 30 MW, with plans to expand to 50MW in the near future. For the first quarter of 2020, Bitriver plans to offer a capacity of 100 MW.

Source: Currency Market

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