Russian Mining Company Looking to Mine 20% of Remaining Bitcoin

A Russian government official has plans to open a new crypto mining center with the goal of cornering 20% of the market for bitcoin.

Dmitry Marinichev, Russian presidential internet ombudsman and CEO of the Russian Mining Company (RMC), has plans to repurpose an abandoned metal factory for crypto mining.

Speaking in an interview with Russian financial news outlet RBC, the CEO explained that the factory, located in the northern province of Karelia, was closed in 2018 due to U.S. sanctions. Marinichev and the RMC have plans to convert the space into a crypto mining farm which could potentially account for 20% of the cryptocurrency mining market.

Marinichev told RBC,

Our idea consists of converting the factory and selling its computer power as a service, that is to say, offering IT services. Read More...

There are some huge mining facilities being built in Russia and the US

#Mining #BTC #Russia

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