Russia: The aluminum plant is going to mine, is it going to win 20% of the global bitcoin production?

According to Cointelegraph's October 30 report, a bitcoin mining company owned by the Russian Internet Ombudsman plans to use abandoned site mining and plans to monopolize 20% of the international market.


Government Ombudsman refers to the bitcoin industry

According to local financial news reports on October 29, the Russian mining company plans to re-enable an aluminum plant in the northern province of Karelia. Under the US economic sanctions of April 2018, the former Russian aluminum company closed down due to the loss of US customers. However, it may soon turn into a bitcoin mine, which may account for one-fifth of global production.

Dmitry Marinichev, the inspector and chief executive of the Russian mining company, searched the Bitcoin mining site throughout the territory and eventually locked the aluminum plant. He said:

We want to transform the factory and sell its computing power. In other words, we will provide information technology services.

In 2017, Marinichev led the Russian mining company to conduct a $43 million first-generation token (ICO), the largest ICO in Russia to date.

Bitcoin digs mining again to attract "eyes"

Although Marinichev is a Russian government official, he has criticized some policies, especially those involving the Internet. For example, the Russian government tried to stop the instant messaging service Telegram, he sneered at it. Because, so far, these efforts are in vain, and Telegram is still free to use. However, now Marinichev may soon turn to issuing his company's digital currency.

In an interview last May, he said: It is impossible to stop the Telegram by blacklisting IP addresses. In this way, the battle will continue indefinitely, even if you think that Telegram customers use open source software, they can analyze and understand their internal operating mechanism.

According to reports, the competition for bitcoin mining has risen again in 2019. Although Bitcoin itself is up and down, its hash rate (a unit of measure dedicated to calculating the comprehensive capabilities of mining) continues to hit record highs.

Last week, BitIn, a major mining participant in the industry, announced that it would build the world's largest bitcoin mine in rural Texas in the next few years. At the same time, the world's second largest mining giant, Kanna Nan, applied for a $400 million initial public offering this week.