A mining farm will be built at a nuclear power plant

The region’s government is planning it in Leningrad region in Russia by $ 82 million
30 November 2017   852

In the Leningrad region, the first applicants for the launch of a mining farm for the production of cryptocurrency in the territory of Leningrad NPP in Sosnovy Bor appeared. The head of the region Alexander Drozdenko made an idea for the production of Russian cryptocurrency in the territory of the Leningrad nuclear power plant. The first sites of power units, which are now being prepared for decommissioning, will not be released until the end of 2018.

Information about the developers of cryptocurrencies and innovative startups was not disclosed at the request of lawyers of both sides. But preliminary calculations were announced: investments in equipment of the site for 10 thousand square meters. m, according to calculations of regional officials, will amount to about $ 82 million, the project should pay back in 18-20 months.

The economic block of administration has already developed a variant of tax and legal regulation of the first residents of the technopark. A key condition for the efficiency of the new cluster will be the cost of electricity no more than $ 0.05 per kWh. The first operation at the LNPP-2 power unit are planned to start in December, and the power engineering will go to full capacity next year. Farm equipment can become a ready infrastructure for other projects related to finance, artificial intelligence and neural networks.

In the other countries, for example Canada, the government supports mining startups. It provides discounts on electricity for miners.

'Kodak Miner' Turned Out to be a Scam

KashMiner by Spotlite USA was promoted as Kodak branded bitcoin miner 
17 July 2018   113

The KashMiner bitcoin miner, exhibited at the Kodak stand during the CES technology show in Las Vegas, was in fact a product designed to mislead potential consumers and with a potentially unattainable potential return. This is reported by BBC.

Spotlite USA is licensed by Kodak's lighting division, which allows it to use the famous brand in its products. In January 2018 the company introduced its miner and announced that it intends to lease it. According to its business plan, potential users had to pay a commission before getting the device. It was expected that after depositing $ 3,400, the customer will receive a device that will allow him to easily cover expenses and receive revenue from bitcoin mining.

However the company did not have an official Kodak license to use the brand in the production of mining equipment and initially overstated the indicators of the potential profit of its device, refusing to take into account the growing complexity and costs of bitcoin mining. The advertising materials reported that KashMiner brings $ 375 a month, which, subject to a 2-year contract, would allow the client to receive $ 5,600 of profit after paying a commission. Experts from the industry of cryptocurrency call this offer a scam.

There is no way your magical Kodak miner will make the same $375 every month.
 

Saifedean Ammous

Economist

CEO Spotlite USA Halston Mikail previously reported that he plans to install hundreds of miners at the headquarters of Kodak. According to him, he already managed to place 80 miners there, but the Kodak spokesman denied this information.

While you saw units at CES from our licensee Spotlite, the KashMiner is not a Kodak brand licensed product. Units were not installed at our headquarters.
 

Kodak Spokesman

In a phone call with the BBC, Spotlite's Halston Mikail said the US Securities and Exchange Commission (SEC) had prevented the scheme from going ahead.