Russia is capitalizing on most countries’ anti-mining stance and is directly supporting the construction of a $12.3 million mining facility in Siberia.
SBI had remained tightlipped about its association with BitRiver, but sources now reveal it has lost tens of millions of dollars after ending this relationship.
Russia’s energy minister has proposed changes that could see block reward miners pay more for electricity than households as the industry grows rapidly.
An unidentified client for BitRiver has recently shipped roughly 20,000 ASIC miners into the firm’s block reward mining facility in Siberia.
The wholly owned subsidiary of natural gas firm Gazprom is initially running mining operations from one of its oil drilling facilities in Siberia.