The total computing power of BitCluster’s data center in Norilsk could potentially reach about 1% of the Bitcoin network’s total hashrate. This was disclosed to ForkLog by the company’s founder, Vitaliy Borshenko.<\/p>\n
The planned electrical capacity of the data center is 31 MW. According to Borshenko, this will allow housing up to 12,000 Antminer S19 devices with a hashrate of 110 TH\/s and a consumption of 2.5 kWh.<\/p>\n
\n\u201cThe total computing power of these ASIC miners will be 1.32 EH\/s, which corresponds to roughly 1% of the Bitcoin network’s total hashrate,\u201d Borshenko said.<\/p>\n<\/blockquote>\n
Although the digital assets law \u201cOn Digital Financial Assets\u201d has not yet come into force, BitCluster has not faced legal difficulties in opening the data center in Norilsk.<\/p>\n
\n\u201cWhile the prospect of a possible ban on mining and crypto business in general has undoubtedly affected investor and client sentiment,\u201d the company acknowledged.<\/p>\n<\/blockquote>\n
Vitaliy Borshenko stressed that clear legal regulation and taxation will help attract clients and investors, including from abroad.<\/p>\n
\n\u201cWe are ready for taxation of the industry and have said so many times. We are now creating jobs and paying taxes within the framework of current law,\u201d he added.<\/p>\n<\/blockquote>\n
In 2019, BitCluster analysts calculated<\/a> that, considering existing electricity reserves, the creation of a \u201ccrypto valley\u201d in Russia could potentially bring in up to 70 billion rubles annually, solely from VAT on consumed electricity.<\/p>\n
The company’s calculations were based on the power consumption of a single Antminer S9i ASIC miner, which is 1.3 kWh. The electricity surplus in Russia of 20 GW, according to 2018 data, would allow deploying 14.8 million devices of that type.<\/p>\n
The BitCluster data centre at the site of the closed Norilsk Nickel plant in Norilsk will operate as a \u201cmining hotel\u201d. Its first client will become<\/a> a Chinese firm, the name of which is not disclosed.<\/p>\n
To supply electricity, BitCluster signed a direct contract with the Norilsk-Taymyr Energy Company.<\/p>\n
The \u201cOn Digital Financial Assets\u201d law, which will take effect on 1 January 2021, does not contain a direct ban on issuing cryptocurrencies. However, amendments to the document prepared by the Russian Ministry of Finance forbid<\/a> miners from receiving cryptocurrency as remuneration.<\/p>\n
ForkLog in detail discussed<\/a> in what this means for the industry.<\/p>\n
Subscribe to ForkLog’s news on Telegram: ForkLog Feed<\/a> \u2014 the full feed of news, ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"
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