RUSAL and AA! LAB will build mining farm

It will be located in Karelia by on the basis of aluminum plant
01 December 2017   3193

The United Company RUSAL, the largest aluminum producer outside of China, has established cooperation with the cryptocurrency miner to revive the full-fledged work of one of its aluminum plants in the north of Russia.

RUSAL will build a data center at its Nadvoitsy plant, which will charge for the provision of IT services, such as personal data analysis and technical training. Bulgarian company AA! LAB is working on creating a production capacity for the development of cryptocurrency systems and is the first partner in this project.

The data center will bring a new income to the metallurgical plant, which uses only half of its capacity. The cold climate allows you to use less electricity to keep machinery in good condition. IT companies will also have access to cheap electricity from the nearby En + Group hydropower plant, which serves the plant.

At the first stage, the data center will be equipped with 5000 computational units, servers and workstations, the estimated power consumption of this equipment will be 6 megawatts of energy. The manufacturer also allocated about 12 acres of free space in the territory for future data center needs.

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   171

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.