Siberia is evolving to be a location that several cryptocurrency miners are taking advantage of. A Majority of BTC transactions are hosted in Siberia. It is already a major attraction for miners.
There were governments who
decided to allow the industry evolve to see if it work for good. However, when the system was trying to
function out of the control of the government, countries like China banned it.
In year 2017, the Chinese
government even issued orders requiring the cryptocurrency exchanges to return
the funds to the original investors.
Early this year, Novosibirsk one
of the largest glass manufacturing plant located in Siberia announced their
plans to invest about 11 million rubles to mine Bitcoin. This first phase of the projected reportedly
made use of empty space and surplus energy for this project.
About 5 Siberian power plants who
had surplus electricity attracted crypto miners. Also, En+ Group is providing
electricity to cryptocurrency miners from some of their power plants like
Irkutsk Oblast, Ust-Ilimisk, Bratsk, and Irutsk. While the Russian government
permitted crypto mining, they did it under the condition that the coins that
are mined will be sold overseas and not within Russia.
The miners were trying to attract
China based miners as the Chinese government banned mining. With electricity costs being the lowest in
Russia several countries are considering it to be the best place in the whole
world for mining.
Bitman has a service center in Irkutsk,
and Russia is all prepared for legal mining operations. The largest legal platform for providing for
the mining operations are located in Siberia.
This platform was launched by Ilya Bruman and Alexey Paikin.
Ilya Bruman previously stated
that they have encountered restrictions for mining at home and therefore they
were looking to scale the business by making use of electricity legally to mine
cryptocurrency. They tried to use legal
methods to fulfill the market requirements. They decided to provide with stable
electricity supply for their investors to facilitate highly efficient power
supply for their mining business. Therefore they built the comprehensive
infrastructure to provide for electricity.
The mining projects depend upon
the renewable energy sources with the most ecofriendly hydroelectric power
stations. Since the mining plants are located near the power stations not only
the cost of electricity gets to be cheap, but the cost of delivering
electricity also becomes cheap.
Anyone who is willing to take to
professional mining can make use of the Minery in a way to function without any
kind of legal headaches. Even someone without a technical background will be
able to mine coins in just two clicks.