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There is evidence, however, suggesting SBI Crypto’s operation has slowed since Russia invaded Ukraine, which led to sanctions. Its mining pool hashrate, a measure of computing power spent on the Bitcoin network, has dropped by about one-third since February, according to data from information platform Blockchain.com. Source
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Russian crypto mining operator Bitriver will use electricity generated from associated gas provided by Gazprom Neft to mint digital coins. As part of a new agreement, the mining company will in return develop the digital infrastructure at the oil producer’s wells in Russia. Crypto Mining Operator Bitriver to Cooperate With Russian
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"Over the next two years, BitRiver intends to implement projects to create its own data centers for power-intensive computing with power scaling up to 2 GW, including APG, which will additionally provide high and stable power consumption," Igor Runets, founder and CEO of BitRiver, said in Thursday's statement. Source
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The firm and 10 of its subsidiaries were added to OFAC's list of designated nationals subject to sanctions on Wednesday. Original Source
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"Treasury is also taking action against companies in Russia’s virtual currency mining industry. By operating vast server farms that sell virtual currency mining capacity internationally, these companies help Russia monetize its natural resources. Russia has a comparative advantage in crypto mining due to energy resources and a cold climate. However,
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BitRiver Rus, based in Irkutsk, Siberia, is one of the largest mining firms in Russia, offering hosting services for large-scale mining. Its data centers are 300 megawatts, and the company plans to increase their size over sixfold by the end of 2022. The company manages five proprietary data centers it
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In the cold and dry region of eastern Russia, a former Aluminum refining plant has transformed into one of the largest Bitcoin(BTC)trade mining sites in Russia.The promising features of BitRiver have already started attracting many crypto stakeholders. Japan, China and the United States have already signed up for renting the
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