Russia has imported its largest Bitcoin miner batch

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Russia has reportedly imported hundreds of cryptocurrency mining gadgets amid a large surge within the crypto market.

A senior government at BitRiver, the largest crypto mining colocation services provider in Russia, claimed {that a} native consumer obtained over 20,000 crypto mining gadgets, Russian information company Kommersant reports Feb. 10.

BitRiver founder and CEO Igor Runets mentioned that the overall mining energy of the imported {hardware} quantities to 70 MWh, which is reportedly estimated to make up the most important single batch of crypto mining {hardware} in Russia. Runets mentioned that the {hardware} was delivered in December 2020 and was instantly arrange for Bitcoin (BTC) mining in Bratsk — a metropolis in Russia that has one of many nation’s largest hydropower stations.

Runets famous that the mining rigs have been imported from Asia. A spokesperson from BitRiver advised Cointelegraph that the corporate can not disclose both the title of the Russian consumer or the precise nation that exported the {hardware}. The consultant added that the mining information heart was established at one in all BitRiver’s areas.

BitRiver didn’t disclose the precise sort of crypto miners imported. In line with Kommersant, the imported batch was priced between $40 million and $60 million.

Regardless of Russia adopting its crypto law “On Digital Monetary Belongings” in January 2021, there’s a sure stage of uncertainty about crypto mining within the nation because the regulation doesn’t present a transparent regulatory framework for the business. In September 2020, native authorities even proposed to prohibit Russian crypto miners from receiving payment for mining crypto.