Crypto mining is a lucrative business and it is not surprising that companies from all over the world are willing to invest in crypto mining. Interestingly, EN+ Group the world’s top producer of low-carbon aluminum and the largest private-sector generator of hydropower entered its first crypto mining joint venture called Bit+.
People should keep into account that the new venture will focus on creating facilities that support crypto mining with a low carbon footprint. Notably, the partner of En+ Group is the Russian company BitRiver.
Interestingly, BitRiver provides hosting services and turnkey solutions for large-scale, institutional crypto mining operations. The company currently operates the largest data center offering colocation services for Bitcoin mining in the Russian Federation. Moreover, it also offers similar services to the members of the Commonwealth of Independent States.
Crypto mining and new opportunities
Interestingly, Bit+ installed a new facility close to BitRiver’s existing data center in Bratsk, located in the Irkutsk region of the Russian Federation. Importantly, En+ Group made the decision to allocate 10MW of electricity to the facility. This facility consists of modular crypto mining units and is already operational. Moreover, the companies plan to scale the facility’s capacity to roughly 40MW.
It is worth noting that, for its initial phase, the facility is composed of 14 modular units. Each of the modular units used to be a shipping container, that is a large as a full-scale crypto mining data center. Interestingly, each unit can accommodate up to 400 Bitmain’s S19 Pro miners.
Irkutsk region is a perfect place for crypto mining. Energy assets that belong to En+ Group produce low-carbon, inexpensive electricity from renewable sources. Also, the group has the capacity to offer surplus energy to these partnerships. Furthermore, the low average annual temperature reduces the energy required by the datacenters. This factor helps to minimize their carbon footprint.
Unfortunately, high energy consumption is a major problem for the crypto sector, particularly for coins such as Bitcoin. Importantly, Bitcoin’s consensus algorithm is computationally intensive and as a result, demands exceptionally high levels of energy to maintain.
However, thanks to En+ Group and BitRiver it is possible to cope with or at least minimize the damage caused by such problems. The world’s largest private-sector generator of hydropower has the ability to develop crypto mining in the Irkutsk region. Moreover, thanks to the local climate, it will be easier to minimize the impact on the environment.
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