Bitferry, a Russian company, plans to build the largest mining site in Europe

nThe runaway commentary: Although the Russian government is about to impose restrictions on Bitcoin transactions, but its local authorities seem to have not been much affected, has announced its intention to attract European mining companies and investors in the hope of using local cheap electricity and advanced infrastructure Develop cryptocurrency tourism. A Russian company called Bitferry also plans to build Europe’s largest mining facility and is currently issuing its own token to raise funds for the project.n
nTranslation: Inan
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Russia’s trump card – cheap energyn
A city councilor told reporters last week: “The electricity here is cheaper and the European miners are ready to move to Russia.” Igor Kohaniy, chairman of the Moscow Construction and Energy Commission, added: “The infrastructure is well developed here, and miners can either Public networks buy electricity and can also install their own gas turbine generators. “n
Bitsmedia said:n
nEncrypting money companies and the Bitcoin community is backing the move, with the capital’s most potential for attracting ‘mining tourists’, according to the Russian Blockchain and Cryptocurrency Association.n
nThe conclusion comes from a nationwide study – evaluating electricity prices, electricity reserves, logistics facilitation and telecommunications infrastructure in various regions of Russia. In this competition, Moscow (the surrounding area of ​​Moscow) came in second, followed by St. Petersburg.n
Vladimir Zhuk, Vice Chairman of Moscow’s Economic and Investment Committee, said:n
n”Investors will not go empty-handed, they are building mines and local entrepreneurs will also benefit from it, where the cost of energy is relatively low, why not take advantage of this?” He also pointed out that attracting encrypted currency tourists It is a wise policy and recommends that authorities should publicize the advantages of the area. Zhuk added, “Russian miners are here to work and they can confirm that this is a great place to run this business.”n
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The Kremlin is preparing a billn
However, not all those in power are optimistic about Russia’s cryptocurrency tourism. Authorities in the Russian Federation are drafting a bill that will limit mining, cryptocurrency payments and token sales. President Putin has already given the Ministry of Finance and the Central Bank the date of submission of the proposal for a framework for this new regulatory regime. The bill should be completed by the end of this month and will come into force next summer.n
Be engaged in bitcoin-related business optimistic, willing to take risks and have some outstanding skills. Bitferry is a Russian-owned company with many years of experience operating in the extremely cold local business environment. The company conducted its first excavation operation on two farms in Moscow in May 2017. Its hardware-savvy team recently announced plans to build one of Europe’s largest mining platforms. They claim that the harsh weather conditions in Russia are actually conducive to mining, enabling energy-efficient cooling solutions. Its cheap electricity will also reduce costs.n
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Retail needs large-scale miningn
Great ideas and ambitious plans do not necessarily result in substantial financial support. However, Bitferry seeks to secure sufficient capital. The company aimed at retail investors to provide them with different miners’ portfolios. This feature is conducive to maximizing profits in a sustainable manner, and investors do not have access to only individual mining projects or tokens.n
Bitferry’s tokens have been pre-sold at discounted prices since November. Investors can still buy their tokens now to become participants in the plan to “build the largest cryptocurrency mine.”n

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