fbpx
The Daily Chain
No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
No Result
View All Result
The Daily Chain
No Result
View All Result
Home All News

Russian hydroelectric producer dabbling in Bitcoin mining

Gareth Jenkinson by Gareth Jenkinson
5th November 2020
2 min read
2
Bitmain signs $17.7 contract with Riot Blockchain

(Shutterstock)

0
SHARES
0
VIEWS
FacebookTwitterLinkedinTelegramEmailWhatsapp

One of Russia’s biggest hydroelectric power producers has confirmed its exploration of Bitcoin mining as another avenue of business.

According to a report from Coindesk, world-renowned aluminium and power producer EN+ has decided to pursue a joint venture with local Bitcoin mining firm BitRiver. EN+ told the publication that it had its first dealings with the cryptocurrency mining sector when it began selling power to BitRiver’s mining operation three years ago.

The firm is said to own the biggest cryptocurrency mining data centre in Russia, which hosts around 100 megawatts worth of ASIC miners at the site near the EN+ hydropower plant in Bratsk, Siberia.

The EN+ page on the London Stock Exchange website claims that the group is the largest independent hydro generator in the world, with 15.1 GW of installed hydro power capacity.

New farm

Coindesk reports that the two companies have joined forces to set up a new Bitcoin mining datacenter, which EN+ owns a majority 80% stake of. The new site will offer miners 10 megawatts of power to house their equipment at the site. This includes a potential expansion to 40 megawatts of hosting potential.

EN+ chief financial officer Mikhail Khardikov told Coindesk that cryptocurrency mining is becoming a lucrative alternative revenue stream for electricity producers.

“Our main business is combining the production of electricity and aluminium, which allows for turning electricity right into aluminium production, instead of selling it via the power grid [to consumers]. Data centers, especially for the mining farms, are an even more attractive way of turning electricity into a product,” Khardikov told the publication.

Fighting the good fight

The Russian government is expected to publish its comprehensive cryptocurrency regulatory bill ‘On Digital Currency’, in December this year. 

Reports from Russia in September 2020 suggested that the government was considering clamping down on transactions with cryptocurrencies, with the mining industry to be hardest hit by the regulations.

Given that it is ramping up interests in Bitcoin mining, EN+ is reportedly lobbying for more cryptocurrency-friendly regulation in Russia according to Khardikov.

Tags: BitcoinBitcoin miningbtcRussiaRussia banRussia crypto
ShareTweetShareShareSendSend
Gareth Jenkinson

Gareth Jenkinson

Gareth is a radio presenter and an award-winning sports journalist based in Johannesburg, South Africa. Away from his love of all things sport, he’s been covering the cryptocurrency and blockchain space since 2017.

Related Posts

BTC Faces Uphill Task Near $34K, While ETH Starts Fresh Increase
All News

BTC Faces Uphill Task Near $34K, While ETH Starts Fresh Increase

24th January 2021
CryptoPunk NFT sells for $750k in ETH
All News

CryptoPunk NFT sells for $750k in ETH

24th January 2021
Digital Yuan-Beijing-Shanghai-CBDC
All News

Beijing and Shanghai to join China’s Digital Yuan Pilot Program

24th January 2021
Chainlink and Aave Soar to New All-Time Highs As BTC Consolidates
All News

Chainlink and Aave Soar to New All-Time Highs As BTC Consolidates

24th January 2021
Bitcoin Hash Unaffected by Chip Shortages and Blackouts Across Iran
All News

Bitcoin Hash Unaffected by Chip Shortages and Blackouts Across Iran

24th January 2021
Janet Yellen-Crypto
All News

Janet Yellen wins Senate Vote – Promises to work on effective Crypto regulations

24th January 2021
Next Post
QuadrigaCX-Assets-Ernst & Young

QuadrigaCX Victims in a mess - Trustee has $30M to reimburse $171M worth of claims

Bitcoin

Bitcoin drives Square's Cash App earnings

Please login to join discussion
  • All News
  • Editor's Picks

BTC Faces Uphill Task Near $34K, While ETH Starts Fresh Increase

CryptoPunk NFT sells for $750k in ETH

Beijing and Shanghai to join China’s Digital Yuan Pilot Program

Chainlink and Aave Soar to New All-Time Highs As BTC Consolidates

Bitcoin Hash Unaffected by Chip Shortages and Blackouts Across Iran

Join our newsletter!

Enter your email to receive our newsletter.


Don’t worry, we don’t spam
ADVERTISEMENT

Popular Posts

  • Prime Minister-Bitcoin-Canada

    Ex Canadian Prime Ministers says Bitcoin could be a Reserve Currency

    0 shares
    Share 0 Tweet 0
  • Reports – Iranian police seize 45,000 illegal Bitcoin miners

    0 shares
    Share 0 Tweet 0
  • SEC lists 28 Suspicious Crypto Companies in its Watch List – Are your funds safe?

    0 shares
    Share 0 Tweet 0
  • Grayscale Investments might soon launch new Crypto products and Chainlink is on the list

    0 shares
    Share 0 Tweet 0
  • Crypto Expert Advises Investors to Scoop up Altcoins as BTC Rally Stalls

    0 shares
    Share 0 Tweet 0

Market Updates

BTC Faces Uphill Task Near $34K, While ETH Starts Fresh Increase

BTC Faces Uphill Task Near $34K, While ETH Starts Fresh Increase

24th January 2021
Chainlink and Aave Soar to New All-Time Highs As BTC Consolidates

Chainlink and Aave Soar to New All-Time Highs As BTC Consolidates

24th January 2021
Crypto Expert Advises Investors to Scoop up Altcoins as BTC Rally Stalls

Crypto Expert Advises Investors to Scoop up Altcoins as BTC Rally Stalls

22nd January 2021

Media

hashoshi-alts (2)

Altcoin Season Picks / Projects with Huge Potential

9th September 2020
cardano-ADA

Hashoshi: Cardano Shelley is live… but what’s next is WAY BIGGER

19th August 2020
hashoshi-alts

Hashoshi: Low Cap Alts you need to be watching in 2020

5th August 2020
fomohunt-podcast

FomoHunt Podcast – Joe Vezz & Jon Farjo: Tracking Social Sentiment Waves with Lunar Crush

30th July 2020
ethereum-hashoshi

Hashoshi: Ethereum 2.0, Chainlink, Bitcoin Price, and more!

27th July 2020
fomohunt-podcast

FomoHunt Podcast – Joe Roets: Behind the scenes of “Open source money”

24th July 2020
The Daily Chain

The Daily Chain is a news platform and educational hub founded in January 2019. We are dedicated to providing unique and informative daily content across all facets of the blockchain and cryptocurrency industry whether it be news, opinion pieces, technical analysis, reviews, interviews, podcasts and more.

LEARN MORE »

Recent Posts

  • BTC Faces Uphill Task Near $34K, While ETH Starts Fresh Increase
  • CryptoPunk NFT sells for $750k in ETH
  • Beijing and Shanghai to join China’s Digital Yuan Pilot Program
  • Chainlink and Aave Soar to New All-Time Highs As BTC Consolidates

Information

  • About
  • Contact
  • Site notice
  • Risk Warning
  • Privacy Policy

Categories

  • News
  • Markets
  • Features
  • Education
  • Media
  • Reviews

TheDailyChain © 2020. The Home of Digital Assets

No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List

TheDailyChain © 2020. The Home of Digital Assets

At The Daily Chain, we are committed to protecting the personal data of our audience.
In light of the General Data Protection Regulation, we are asking our audience in Europe to consent to the use of cookies by The Daily Chain and its partners to continue to our site. These cookies are used to personalize your user experience (content and ads) and support and improve the site. Please click “I Agree, Continue to Site” below to consent to the use of this technology and continue to TheDailyChain.com. Visit our Privacy Statement to learn more. Cookie settingsAgree, continue to site
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

bitcoin
Bitcoin (BTC) $ 31,815.00 0.91%
ethereum
Ethereum (ETH) $ 1,349.80 8.03%
tether
Tether (USDT) $ 0.999202 0.18%
polkadot
Polkadot (DOT) $ 17.71 1.57%
ripple
XRP (XRP) $ 0.273706 0.68%
cardano
Cardano (ADA) $ 0.352239 1.19%
chainlink
Chainlink (LINK) $ 24.51 1.83%
litecoin
Litecoin (LTC) $ 138.05 1.02%
bitcoin-cash
Bitcoin Cash (BCH) $ 432.38 0.48%
binancecoin
Binance Coin (BNB) $ 41.09 0.77%
Newsletter

Join our newsletter!

Enter your email to receive our newsletter.

Don't worry, we don't spam