Russian crypto company sets up Bitcoin mining farm in the Arctic

Russian crypto firm BitCluster dips its toes into Bitcoin mining in the Arctic Circle, where it is extremely cold -- perfect.

@anthony256
Published Fri, Jan 15 2021 11:31 PM CST   |   Updated Thu, Feb 18 2021 7:32 AM CST

If Kim Dotcom is to believed, Bitcoin will replace the USD as the world's reserve currency by 2030 -- so mining Bitcoin right now in a super-cold location with cheap power is a really, really good idea... and that's exactly what Russian crypto firm BitCluster is doing right now:

The company has built a new Bitcoin mining farm in the extreme cold environment of the Arctic Circle in the Siberian city of Norilsk. The city is a place that is called home to 180,000 people and has an insane 9-month-long winter which is why BitCluster built the Bitcoin mining farm there.

Norilsk will see temperatures plunge to -40C which is a big reason why BitCluster opened up the Bitcoin mining farm in the Arctic Circle, alongside power costs being considerably cheaper. The economy of Norilsk has been driven by nickel mining for many years but that might change as the city is powered by an independent power grid that is 25% cheaper than the rest of Russia -- so we should expect more mining firms to follow in the steps of BitCluster.

Russian crypto company sets up Bitcoin mining farm in the Arctic 02 | TweakTown.com
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NEWS SOURCE:unilad.co.uk

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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