Russian Official Plans to Rival Bitcoin Mining Mega-Farms of Texas

As reported by News BTC, “A massive new Bitcoin mining facility looks to be coming to Russia. The vast new data centre is being constructed by Russian Mining Company – a firm owned by the nation’s internet ombudsman.

“The planned mining operation looks set to be one of the largest on the planet. The news follows announcements by Bitmain and Layer 1 detailing plans to open vast new facilities in the US state of Texas.

“According to a report in a local financial news publication RBC, the Russian Mining Company plans to open its new facility in the province of Karelia. The facility will reportedly command about a fifth of the total current Bitcoin hashrate.

“Dmitry Marinichev, the CEO of Russian Mining Company and the nation’s internet ombudsman, told the publication that the company plans to build the new mega mining facility in a disused metal working plant. The new facility will presumably be financed by the funds raised in the Russian Miner Coin ICO held in 2017. The token sale raised more than $43 million, making it the largest ICO held in Russia at the time…”

Continue to read the full story at News BTC.