MineSpot, a so-far unknown company in the cryptocurrency mining industry announced it is opening a 160-megawatt mining facility in Siberia, Russia’s Far East, that would be the largest crypto farm in the country.
The facility is in proximity to the Boguchany Dam in the Eastern part of Siberia, near the town of Kodinsk. It will take the space in the buildings and territory of a boiler house used in the past to serve the workers working on the dam. The dam itself, whose construction was initiated in the late Soviet era, was finished in 2015. It is now one of the biggest hydropower facilities in the whole of Russia.
Adam Aushev, who is among the co-founders of MineSpot, stated that the future clients of the farm would be Bitcoin and Ethereum miners. Like other such facilities in Russia, the venue will work as a “mining hotel”. This means it will host its clients` equipment while charging them for the electricity they use, and the tech support provided. Potentially, the company may purchase equipment from neighboring China for its clients and manage the logistics for transportation and installation on their behalf.
With its considerable power capacity of 160-megawatts, MineSpot will represent a new competitor to the companies working in other Siberian cities like Irkutsk and Bratsk. However, the new venue will be the largest one exceeding the power capacity of BitRiver, which manages the 130-megawatt crypto farm in Bratsk.
Aushev also announced that he expects the first 10 megawatts of the new farm to be put in use by clients by the end of the current year.
