An old nuclear power plant from Sosnovy Bor, a Russian small city in Leningrad Region, near the cosmopolitan city of Saint Petersburg, is set to become an industrial-scale mining farm after the governor of the region invited miners to relocate in the region.
A new nuclear power plant is already being built in the vicinity of the old one and as soon as work will progress to the new plant, lots of space from the old one will become available. Governor Drozdenko stated that miners would need large space and cheap electricity and the old nuclear plant has a good potential for this.
“For the production of bitcoins, first of all, large areas for processing and cheap electric power are required. Production sites that are being released during the construction of new power units of the Leningrad nuclear power plant will be available for new residents as early as 2018. In the new technopark, residents can be granted additional preferences and benefits.
This has been debated during a business forum called Energy of Opportunities in Russia, which was attended by more than 600 entrepreneurs. It is yet unclear what benefits and preferences will residents get and how cheap will be to set up a and run mining farm in the industrial region.
What’s behind this?
Well, it is hard to have a clear idea of why is this happening right now. Can link this information with all the latest China buzz around banning ICOs and exchanges? Is Russia trying to attract Chinese miners? That would make sense if the industrial mining farm would be located near the Chinese border, in a city like Vladivostok. Maybe Russia is trying to compete with China or to put their hands on the great potential that crypto world has.
Some sources including Bloomberg stated that Russian President Vladimir Putin’s internet advisor is planning to launch an ICO for a project called Russian miner Coin with a long-term vision of competing with the Chinese bitcoin mining industry and large-scale bitcoin mining equipment manufacturers such as Bitmain.
“Russia has the potential to reach up to 30 percent share in global cryptocurrency mining in the future.” Dmitry Marinichev stated at a conference in Moscow.
First Deputy Prime Minister Igor Shuvalov recently revealed that the government is discussing the creation of state-owned cryptocurrency mining centers and Russia’s deputy finance minister Alexey Moiseev has said it is “hard to argue cryptocurrency is not a pyramid scheme” amid sudden plans to ban sales.
How can we link all this info and what do you think are Russia’s plans for crypto?