Russia to Mine 20 % of World ‘ s Bitcoin ?
” A Bitcoin mining company owned by Russia’s internet ombudsman is planning to open a new facility and corner 20% of the international market.
As local financial news outlet RBC reported on Oct. 29, Russian Mining Company (RMC) plans to repurpose a metal factory in the country’s northern province of Karelia.
Closed due to US sanctions in 2018, the ex-Rusal facility could soon host a Bitcoin (BTC) mining farm so large it could account for one-fifth of global output.
“Our idea consists of converting the factory and selling its computer power as a service, that is to say, offering IT services,” the ombudsman, CEO Dmitry Marinichev, told RBC.
Marinichev steered RBC through a $43 million initial coin offering (ICO) in 2017, a sale that remains Russia’s largest. ”