Bitcoin mining: Russia Imports the Largest Batch of Mining Devices

· Anonymous BitRiver client allegedly acquires over 20,000 bitcoin mining devices in Siberia, Russia. 

· The exact type of the miner and the location it was imported from are not known.

· BItRiver says it cannot divulge the exact location of the setup or the client’s name

· The stack of mining devices is estimated to cost between $40 M and $60.

Client Acquires a Stack of 20,000 Bitcoin Mining Devices

BitRiver, the largest cryptocurrency mining colocation provider in Russia, reported that an anonymous client requested more than 20,000 crypto mining devices.

The CEO Igor Runets, mentioned that the imported devices have a total computing power of about 70 MWh. He added that the newly imported batch is the largest single batch of crypto mining hardware in Russia. 

Runets said further that the batch of mining devices was sent in December 2020 from an Asian country. However, he didn’t disclose the country it was sent from. He continued that, immediately the hardware arrived, it was put up for bitcoin mining in Bratsk. Bratsk is home to one of Russia’s largest hydropower stations.

A BitRiver representative told Cointelegraph that the firm could not reveal the client’s name or the particular Asian country from which the hardware was imported. He said further that the hardware was erected in one of BitRiver’s hosting sites. 

Although the precise type of miner that was imported wasn’t revealed, a news source report revealed that the devices’ total cost is between $40 M and $60 M. 

The Future of Bitcoin Mining in Russia is Unclear

In January 2021, Russia implemented its crypto law, but the law didn’t provide final regulations for its crypto industry. There is still some vagueness about the future of crypto mining in the country, considering the latest law and the cheap cost of electricity.