Bitcoin mining in Russian aluminium plant to support 20% of total mining volume

Russian Mining Company (RMC) wants to convert a closed aluminum plant into a Bitcoin mining plant.

Aluminum plant to Bitcoin mining facility

RMC’s Dmitry Marichinev wants to increase bitcoin mining in the country. He has proposed to use an aluminum plant that lost customers due to US sanctions placed in April last year. The plant titled Nadvoitsky Aluminum Plant (NAZ) is located in Karelia.

US Office of Foreign Assets Control (OFAC) had imposed sanctions on Rusal, the parent company of NAZ. Rusal’s owner Olag Deripaska was named to be a Designated Russian Oligarch with ties to the Kremlin. Since then, Deripaska has given up his stake in Rusal, and the sanctions were lifted. However, production at NAZ has not resumed.

Now part of the old production site has been given to RMC on lease. However, RMC is not the only one operating in the plant as parts of it have been rented by various other entities for reasons unknown. Read More...

#Russia #Mining

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