Russia's New Power Plant to Boost Bitcoin Mining
According to Blockzeit DE, Russia is constructing a new power plant in Buryatia aimed at promoting Bitcoin mining. This initiative is part of the country's broader strategy following the legalization of cryptocurrency use for international payments and mining activities. Despite having restrictions on domestic crypto transactions, Russia sees potential benefits from these innovations.
The Russian Ministry of Energy has embarked on this project to address energy shortages partly caused by an influx of Bitcoin miners. The facility will provide both heat and electricity, supplementing the aging Gusinoozerskaya thermal power station, which remains crucial for Buryatia’s energy supply. By establishing this new infrastructure, Russia aims not only to meet local demand but also to position itself as a global hub for Bitcoin mining.
Cipher Mining Expands with Options Agreements in Texas
Marketscreener DE reports that Cipher Mining Inc., a prominent player in the blockchain sector, has announced it has signed options agreements to acquire data center sites totaling 1.5 GW across West and North Texas from Juvo Energy. These locations are strategically positioned near transmission capacities and are nearing final approval stages for interconnection, with each site targeting up to 500 MW capacity.
This expansion allows Cipher Mining two years to exercise its option rights over approximately 580 acres, either through lease or purchase arrangements, depending on megawatt approvals granted during interconnections. With these acquisitions, Cipher's active portfolio now boasts ten sites amounting to a 2.5 GW development pipeline poised towards high-performance computing centers or dedicated Bitcoin-mining operations.
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