In Siberia, cheap electricity, cold climate and abandoned Soviet industrial infrastructure have made the Irkutsk region an attractive place for crypto miners.
Bratsk is one of the largest hydroelectric power stations in Russia. The massive dam and generator supplies the mining farms in the region. Cheap electricity actively attracts miners from all over the world, transforming the region into an international mining hub.
In addition to cheap electricity, the local climate is favorable to miners: the average annual temperature in Bratsk is 28 degrees Celsius. The warm season lasts four or five months a year, and the rest of the time the area has temperatures below 0 degrees.
Another advantage is the multitude of empty buildings, former Soviet factories that did not survive in Russia’s transition to a market economy.
Many of these buildings are connected to the electricity grid and have become crypto mining farms. In these remote areas, miners can use hydropower without disturbing their neighbors.
Crypto mining farms
Three companies, Bitriver, Cryptoreactor and Minery, are the biggest players here offering “mining hotels”. These are locations where interested companies can place their ASICs on farms equipped with cooling systems, technical assistance teams and security agents.
Bitriver has 100 megawatts available to customers. Cryptoreactor said it provided 40 megawatts and Minery uses 30 megawatts. Currently, the locations host mining hardware from customers in the US, Russia, Japan. Korea, Brazil, Lithuania, India, Poland, Spain, China and other countries.
The Romanian farm that will open its doors soon has 40 megawatts ready for customers.
At one of the two Minery farms, for example, 26 bulk carriers house ASICs owned by miners from the US, Russia, Korea, India, Japan and Spain, said the company’s CEO, Ilya Bruman.
Dmitry Ozersky, CEO of Eletro Farm, a mining company building a large location in Kazakhstan, estimated that Russian Bitcoin mining farms now have a combined capacity of 600 megawatts. This represents almost 10% of the total power that supports the Bitcoin network worldwide.
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