Large Scale Legal Bitcoin Mining Operations Are Going To Be Performed In Russia

Large Scale Legal Bitcoin Mining Operations Are Going To Be Performed In Russia

Russia one of the biggest countries in the world will become the birthplace of one of the world’s largest legal mining operations located in Siberia. The Russian businessmen, Ilya Bruman (London Metropolitan University, MBA Finance) and Alexey Paikin (Lomonosov MSU Business School, MA, Management) are building the largest in Russia legal platform for the mining of crypto-currency called – Minery. The building will consist of 5 mining complexes with a total capacity of 55 megawatts and an area of 59,200 square feet will be launched in the fall of 2018 and will permit the lawful production of the lowest electricity tariffs in the Russian Federation.

Because bitcoin popularity grows around the world, mining farms, dwellings and massive mining transactions appear. In Russia, with its energy resources and climate, which create some of the best conditions for crypto-mining, this resulted to the fact that more than 1.5 million Russians are involved in domestic production (solo mining). This type of production has a number of limitations: noisy, counterproductive, fire-hazardous, requires constant attention, time and operating costs. More importantly, it is not always legal. Large farms are often placed in deserted factories and buildings and depend on electricity from sponsored sources, which is forbidden and causes Russian authorities close them. When Russia passes a law on the regulation of the cryptocurrency in June 2018, most such enterprises will become illegal.

Bitcoin News

The major benefit of the project for miners and investors will be profitable conditions for mining, available for holders of MNRY tokens. All tokens are provided with real electricity and allow using the complex’s capacity for free for 30 years. By purchasing 1 MNRY token, the customer is granted to use 1 Watt of the facility’s power when placing his equipment at one of the lowest electricity tariffs in the world (the final price for kW/h makes up  0.04 USD, including VAT). This power can be used by the token holders to install their own miners or lease it to other users by passing the MNRY tokens. Along with Bitcoin, the holders of tokens will be able to produce other popular cryptocurrencies: ETH, ETC, LTC, DASH, CASH, XMR and others. 100% of all mined coins stay on the purses of the miners without additional commissions.





Leave a Reply

Your email address will not be published. Required fields are marked *