Crypto Mining and Russian Nuclear Power Plant

Crypto market in Russia

In December 2019, Rosatom State Atomic Energy Corporation opened a crypto mining farm. The state-owned corporation allocated more than $4.8 million to build the 30-megawatt facility. Based on the information provided by the Sergei Nemchenkov. He is the head of data centers and digital products at Roenergoatom, which is a part of Rosatom.

It is worth mentioning that the facility is located near the Kalinin nuclear plant in Udomlya, in the Tver region. However, Rosenrgoatom has no intention to start crypto mining. The purpose of this facility is to rent space to the crypto miners. Moreover, it also plans to sell additional electricity to heavy users.

Thanks to the mining farm, a state-owned corporation will be able to diversify its business activities. It is no secret that both data centers and crypto miners need a lot of energy to sustain their operations.

Interestingly, Rosatom is the first big government-owned to support crypto mining in Russia. Additionally, the company plans to open 240 megawatts or more of the power generated by its facilities for such activities.

Based on the information, a new facility in the Tver region will have enough space for 30 containers. Each of them will have the room for almost 400 individual mining computers.

Crypto mining in different countriesCrypto news on Thursday

Companies who are interested in using the facility should take into consideration that it will cost 4 to 5 cents per kilowatt-hour. It is not the lowest price in the market. For example, in some regions of China and Kazakhstan, it is possible to pay less than 4 cents.

There are other crypto mining farms in the world. For instance, Chinese mining giant Bitmain is building the mining farm in Texas. This facility will have a capacity of 25 to 50 megawatt at the beginning and will expand to 300 megawatts.

The same company is constructing another farm in the same town; Bitmain plans to open 300 megawatts facility, and later this crypto mining farm will reach up to 1 gigawatt.

Last but not least, Rosenergoatom partnered with ECOS-M, a mining hotel firm. This company will serve as an intermediary between the state-owned company and miners.

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