26 Apr 2018 17:10

Five cryptocurrency mining factories to be built near Irkutskenergo hydropower plants

IRKUTSK. April 26 (Interfax) - Estonian Minery Global and Russian Minery.ru LLC will launch five complexes for mining cryptocurrencies by October this year, the two companies said in a press release.

"In all five mining complexes with 55 MW of capacity are planned for construction," the press release said.

Three of the complexes will be in Bratsk and one each in Irkutsk and Ust-Ilimsk.

The partner for electricity supplies is Bratsk Electric Grid Company. The mining complexes will be located in Irkutsk region because of the availability of cheap electricity generated at three Irkutskenergo hydropower plants: Irkutsk, Bratsk and Ust-Ilimsk. The overall price for each unit of capacity of installed equipment [at the mining complex] is just $0.07 kilowatt-hour."

The project initiators are currently engaged in obtaining permits and developing the software for mining hosting management on OC Linux. Construction of the mining factories themselves will begin in May. Production of cryptocurrency is expected in October.

Minery.ru, registered in Moscow in March 2018, is owned by Maria Asnis, according to the SPARK-Interfax analytical system.