$386.2 Million Investment in New Mining Centers in Russia

Russia continues its aggressive investment in the cryptocurrency mining industry. The Komi Republic has announced plans to build 15 new data centers, with two located in Mikun and Sindor. The total investment in the project amounts to $386.2 million. The project is being implemented in partnership with the energy company Energoresource-K, which has already signed a cooperation agreement with local authorities.

This decision follows President Vladimir Putin’s signing of a law legalizing industrial cryptocurrency mining in Russia. This move will allow Russia to become a major player in the mining market and provide miners with access to surplus electricity, reducing production costs.