Russian Plant to Start Mining 20% of Bitcoin Turnover
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Oct. 29, 2019
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The world's second-largest aluminum company by primary production output United Company RUSAL has decided to use its plant that was closed because of the U.S. sanctions as a center for bitcoin mining, iHodl Russia reports.

The idea of mining bitcoin belongs to the Russian Mining Company (RMC), in the creation of which the Founder of Russian Miner Coin Dmitry Marinichev took part. The aluminum plant belongs to the company of businessman Oleg Deripaska.

Marinichev claims the plant right now is unprofitable for Rusal, the electricity supplied to it is practically not utilized, and people living in the single-industry town near the plant "have nowhere to work."

"Our idea is to transform the plant and sell its computing power as a service, that is, provide an IT service," Marinichev added.

Mining equipment for the plant will reportedly be provided by Cryptouniverse. According to the RMC representatives, together with Cryptonex they plan to get a total pool power of up to 20% of the global bitcoin mining.

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