BitCluster, a cryptocurrency mining company in Russia, is setting up shop where few dare to wander.
A new mining farm above the Arctic Circle, in the industrial area of Norilsk in the Taymyr Peninsula, will provide 11.2 megawatts of power for mining bitcoin. The farm will be working as a “mining hotel,” meaning that it will be hosting application-specific integrated circuits (ASICs) for customers, charging them for electricity consumption.
The farm will occupy the land of the now-closed nickel smelting plant owned by Nornickel, the Russian mining and smelting corporation that has been actively exploring the blockchain and crypto space, and that plans to sell tokens backed by metals in the U.S. and Switzerland. The nickel plant was shut down due to environmental concerns. Nornickel did not respond to CoinDesk’s request for comment by press time.
BitCluster’s farm will expand its capacity to 31 megawatts next year and will use the venue of the former