Hong Kong Company to Build Mining Farm on Russian Island

A Hong Kong-based cryptocurrency company plans to open cryptocurrency mining farm and AI lab on Russian island
24 November 2017   375

Genesis Engineering is planning to set up a cryptocurrency mining farm and an artificial intelligence laboratory on Russia’s Russky Island which is situated in the Sea of Japan.

Genesis Engineering is a joint project of Btc Inc and Genesis Mining, formed earlier this month. It focuses on development in regions around the world that have excess energy capacity, including the Americas and Eurasia.

The company is interested in the region’s free plots of land and energy facilities, as well as preferential tax and customs duties. It plans to set up around 300 thousand square meters of production facilities, following a pilot project.

 

The Ministry for Development of Russian Far East statement

The territory also provides the free trade zone, so the tax preferences and the possibility of applying for a free customs zone are available to investors.

Alexander Abramov, director of the Far Eastern Center for Economic Development, upholds the idea of building mining farms in his region. He said that this venture is a step forward to cooperation with big economies.

Among other projects, the company intends to build a cryptocurrency mining farm, a crypto museum, and to develop training programs for students on a Russian island.

FCC Demanded a Miner to Turn Off his Mining Hardware

The FCC concluded that the mining rig was generating spurious emissions and causing harmful interference on T-Mobile’s broadband network
21 February 2018   58

According to the U.S. Federal Communications Commission (FCC) notification, it has received a complaint from T-Mobile with regards to “interference to its 700 MHz LTE network in Brooklyn, New York” during last year. The commission’s agents confirmed that the “radio emissions in the 700 MHz band were emanating from…an antminer s5 bitcoin miner.”

In the notification, the FCC states that ‘the device was generating spurious emissions on frequencies assigned to T-Mobile’s broadband network and causing harmful interference”.

The commission issued a warning to the owner of the mining hardware Victor Rosario. He was not allowed to continue the operation of the device because it caused harmful interference. A violation of the Federal laws cited above and could subject the operator to severe penalties, including, but not limited to, substantial monetary fines, in rem arrest action to seize the offending radio equipment, and criminal sanctions including imprisonment.

According to the FCC, it has not made a determination as to whether or not other Antminer S5s produce disruptive emissions in the 700 MHz band. It also emphasizes that it does not wish to suggest that all Antminer S5 devices are noncompliant but it aware that devices can be modified in a manner that creates harmful interference.