Cryptocurrency will be mined at the Rusal'splant closed due to sanctions

At the end of October, 2019 it became known that the plant of Rusal closed because of sanctions will be used for production of cryptocurrencies. At the enterprise to place the mining equipment Russian Mining Company (RMC) created with the assistance of the Internet ombudsman Dmitry Marinichev.

According to RBC, RMC is going to create based on capacities of zakonserirovanny Nadvoitsky aluminum plant UC Rusal in Karelia a digital hub which will sell computing powers abroad. Miners of cryptocurrencies and also the projects using neuronets and artificial intelligence will act as buyers.

The electric power brought to it is practically not utilized, the people living in the monotown near the plant have no place to work. Our idea consists in converting the plant and to sell its computing powers as service, i.e. to provide the IT service — the Internet ombudsman noted.

At the UC Rusal plant closed because of sanctions will begin to mine cryptocurrency

According to him, RMC intends to convert the body of the plant and to use them for production of cryptocurrencies, development of neuronets and the solution of other tasks requiring a powerful computer hardware.

The president of the Russian Association of Cryptoeconomy and Blockchain (RACB) Yury Pripachkin considers that mining is still profitable to participants of this process, but makes a reservation that everything depends on electric power cost. 

In  October, 2019 RMC signed the agreement with  the Cryptonex company registered in  Great Britain. Together partners expect to occupy up to  20% of mining of bitcoins in  the world.

The closed plant of Rusal in Karelia is interesting not only to Marinichev's structures. As found out RBC, the equipment for mining was also supplied there by Cryptouniverse company because of stable climate, seismostability and the interest of local authorities.

This enterprise was preserved in August, 2018 after the aluminum company fell under the American sanctions and ceased to deliver products in the USA.^[1]

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