A Russian company is leveraging the Siberian city of Norilsk located above the Arctic Circle in order to mine bitcoins. Bitcluster, the owner of the crypto mining operation, plans to expand the firm’s activities after launching the facility in late 2020. According to the company’s website, the datacenter is getting electricity rates as low as $0.03 per kilowatt-hour (kWh).
Mining Precious Crypto Assets in the Arctic Circle
This week the Russian mining operation Bitcluster was featured in a Bloomberg video-report that highlights the company’s Norilsk bitcoin mine. The city of Norilsk is considered one of the world’s most northerly settlements and it is known for hosting the metal mining company MMC Norilsk Nickel PJSC. MMC Norilsk Nickel is the world’s largest palladium producer and it also produces colossal amounts of nickel, copper, and platinum.
Now Bitcluster is bringing the polar region a new type of precious-asset mining by setting up shop mining cryptocurrency in Norilsk.