Russia seems to be preparing to mine Bitcoin with flare gas

Russia seems to be preparing to mine Bitcoin with flare gas


The Russian government continues to establish links with major players in the cryptocurrency mining industry despite staying skeptical about legalizing cryptocurrency trading and payments.

Russia’s state-owned gas giant Gazprom Neft has entered into a partnership with BitRiver, the largest crypto-mining colocation services supplier in Russia providing hosting services for major crypto mining operations. Gazprom will provide BitRiver’s partner data centers with electricity generated from the associated petroleum gas, the companies officially announced on June 16.

As part of the collaboration, BitRiver will be developing a digital infrastructure based on the oil fields that Gazprom provides crypto mining services from the flare gas.

Trending: Bo Polny CONFIRMED: The First of 3 Dominoes Has Fallen, Here’s What Comes Next…

Gazprom first deputy CEO Vadim Yakovlev emphasized that the business model of ​​Gazprom, itself, doesn’t envision work with digital assets. The gas giant is rather aiming to

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend