China has long been a crypto-currency mining stronghold because of low power tariffs and many large mining operations have set up nearby power stations

seems that this theme is overflowing in Russia, where we report the first example of power plants purchased by investors to house cryptocurrency mining operations.

According to RT, the Russian businessman Aleksey Kolesnik reportedly confirmed having bought two of the two power plants of Perm and Udmurtia, located about 1,200 km away. East of Moscow, will be redeveloped into a data center and mining. Operation

Kolesnik paid about $ 3 million for both power plants – although it's uncertain whether and when plans to start mining cryptocurrency will go ahead. 59003]

The credibility of the project and its future is in the hands of the Russian government, which has made progress in its outlook on cryptocurrencies in the country.

Last week, local media reported that Russia The Ministry of Finance had formally drafted a bill that would legalize the trade of crypto-currencies on regulated exchanges in the country.

This also comes after President Vladimir Putin proposed the creation of a multinational cryptocurrency to be adopted by the BRICS.

It is expected that Russia will legalize and regulate the cryptocurrency trade in the country by July 2018, while mining and commercial cryptography will also be taxed.

Expect Larger Movements

Russia has certainly lost no time in establishing a formal regulation of the use of cryptocurrency in the world. country during the past year.

While miners and traders have The government has caught up in the past 12 months, especially after the meteoric rise in the value of Bitcoin.

Last month was not good in the cryptocurrency market, with volatility occurring. However, this has not prevented the massive influx of users seeking to trade cryptocurrencies.

Having given indications as to the direction to take in December, cryptocurrency traders and miners in Russia know what to expect.

It would not be surprising to see more and more large mining operations in the country as the demand for cryptocurrency grows – which inevitably puts more pressure on the network.