Russia’s largest glassworks will mine bitcoins

Russia’s largest glassworks will mine bitcoins

One of the largest glass factories in Russia plans to start mining bitcoins. The management of the plant in Novosibirsk announced plans to invest in mining farm. The amount of the initial investment in the project will amount to 11 million rubles (almost $200,000).

Novosibirsk plant “Ekran” started in 1954 as an enterprise electronic industry. After the collapse of the USSR was converted to the production of glass. In 2017, the plant has produced nearly 460 000 glass jars and bottles. A couple of years ago, its territory was established industrial Park of the same name.

In the industrial Park employs about 200 enterprises and nearly 3,000 people. However, on the territory of 27 hectares are still not used premises and resources. The leadership Park had a brilliant idea how to use them.

The President of the Board of Directors of the company Pavel Boboshik explained that mining would be an empty room not occupied by the production and availability of electrical power. In this room you plan to build a small farm for mining bitcoins and other cryptocurrencies.

According to the Boboshik, if the members of the Board of Directors will approve the project, the mining farm will be commissioned by the end of 2018.

Why Siberia?

The share of Siberia, over two thirds of the territory of Russia. Extreme in all its forms is the trademark of this region, especially when it comes to climatic conditions. Siberia – very cold, but extremely rich in minerals and natural resources place. This means cheap electricity.

Therefore, Siberia is becoming an attractive place for cryptocurrency miners. In addition, ads offering offices and warehouses with low rent for mining companies can be found in any local press.

Powerful equipment used to maintain the Bitcoin network consumes huge amounts of electricity and produces a lot of heat. Accordingly, you need some serious cooling. The cold climate and cheap electricity – two factors that can significantly increase the profitability of mining. In Siberia electricity and cold galore.

Last month Deputy energy Minister of Russia Vyacheslav Kravchenko expressed his positive attitude in his Department to the mining of cryptocurrencies in Siberia and called for miners to invest. Russian energy companies are willing to provide their services. The heat generated by mining hardware, used to heat homes during the long and cold Siberian winter. A leading manufacturer of equipment for mining Bitmain recently opened a service center in Irkutsk.

Let's Disqus