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   2068

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.

Iran to Issue Over 1000 Mining Licenses

Amir Hossein Saeedi Naeini from Iranian ICT Guild Organization said that crypto mining industry attracts many in Iran
27 January 2020   151

Over the past six months, the Iranian Ministry of Industry has issued more than 1000 cryptocurrency mining licenses. This was announced by Amir Hossein Saeedi Naeini, representative of the ICT Guild Organization.

According to him, cryptocurrency mining is a new industry that attracts many in Iran. He noted that miners must obtain a license to work.

The Ministry of Industry, Mine and Trade has issued more than 1,000 licenses for cryptocurrency mining in the country. Our studies show that the crypto mining industry has the potential to add $8.5 billion to the economy.

 

Amir Hossein Saeedi Naeini

 ICT Guild Organization

 He believes that the cryptocurrency industry can help Iran's economy. However, he explained that the high cost of electricity is a serious problem for cryptocurrency miners.

High electricity tariffs plus stringent regulations have made the sector less appealing for small investors.

 

Amir Hossein Saeedi Naeini

 ICT Guild Organization

 He expressed the opinion that “the operating conditions in this industry should not be such that only large capitalists enter the cryptocurrency mining market but that all miners can operate.” He emphasized that changing electricity tariffs could stimulate the mining industry to generate more revenue.