Russia's Giant Miner BitRiver Aims at North America
iHodl.com
Main page News, Bitcoin, Mining, Crypto Market

Russia's largest cryptocurrency mining provider BitRiver is expanding its presence in North America with new Compass, bitcoin mining marketplace, as exclusive representative across North America.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

In a press release shared with iHodl, the company says the new partnership allows investors in North America to access BitRiver’s cryptocurrency mining facilities in Russia by signing a contract with US-based Compass. BitRiver Founder and CEO, Igor Runets, says investors in North America can now directly "host their mining machines" through the Compass marketplace.

"We at BitRiver strongly believe that cryptocurrency mining should be done sustainably. In line with this belief, we use only surplus and renewable energy for our operations," Runets added.

In July 2020, Russian President Vladimir Putin signed the law on "Digital Financial Assets and Digital Currency," which will come into force in January 2021. While the bill itself does not mention cryptocurrency mining in any form, Russia’s Ministry of Finance seeks to lay out some regulations for cryptocurrency mining. Even if this proposed amendment takes effect, mining operations can continue providing colocation services to overseas clients, BitRiver says.

As iHodl earlier reported, bitcoin (EXANTE: Bitcoin) miners revenue in terms of terahashes per second (TH/s) has hit its highest level this year as the miners now earn $0.19 per day per TH/s. The previous local high was reached in February at $0.17, even before the Bitcoin halving that took place in May.

Russia to Test Digital Ruble in Q4 2021

Glassnode's emphasize cryptocurrency miners are not spending more BTCs than usual due to the current update of the historical price peaks.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error
Close