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Closed due to sanctions, the plant "RUSAL" will mine cryptocurrency

Russia / Business and Finance

At the Nadvoitsky aluminum factory in Karelia it is planned to produce $ 100 million cryptocurrencies on a monthly basis.

Closed due to sanctions, the plant "RUSAL" will mine cryptocurrency

Russian Mining Company (RMC) was created by the Internet Ombudsman Dmitry Marinicheva will post the mining hardware cryptocurrency in the Nadvoitsy aluminium smelter (NAZ) in the Republic of Karelia. About it RBC told himself fit.

This plant belongs to "RUSAL" and was mothballed in August 2018, as lost the opportunity to supply its products to the United States after the imposition of sanctions. The representative "Rusala" confirmed RBC that RMC places the equipment on the premises. According to him, is not the only local tenant, after Nate was suspended the production of electrolysis. But who and for what purpose removes areas of the plant, the representative "Rusala" not specified.

According to Marinicheva RMC is interested in creation on the basis of Naz digital hub, which will sell computing power abroad. "Now the factory "Rusala" unprofitable, brought to them electricity is practically never utilized, people living in mono next to the plant, nowhere to run. Our idea is to repurpose the plant and sell its compute power as a service, i.e. to provide the it service," said Marinichev. Such service could be interesting, for example, those who wish to engage in mining cryptocurrency, development of neural networks and artificial intelligence, etc.

According to the representative of RMC, along with Cryptonex they expect to get the total capacity of the pool to 20% of the world of bitcoin mining. For comparison: until recently, BitcoinRussia had no more than 1.5% of the mined bitcoins, according to the blockchain.com.

on the Basis that every ten minutes mainida on average, one unit of bitcoin in a month can be extracted 4320 blocks. The reward per block is 12.5 bitcoins. Based on the current value of bitcoin 9.4 thousand dollars, total income from mining may be 507,6 million dollars a month, that is 20% to 101.5 million.

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