Bloomberg estimated the income of Russian mining company BitRiver CEO Igor Runts at $230 million. The calculations were based on a rough assessment of your organization and the approximate cost of 1 MW of power in BitRiver data centers, based on BitRiver data. the Bloomberg Billionaires Index.
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The businessman learned about cryptocurrency mining while pursuing an MBA at Stanford University in 2015-2017, the agency clarified. Some of BitRiver’s first customers included Runtz’s Stanford classmates.
The businessman built the first data center in Bratsk: the city’s long, cold winters naturally cool the servers, Bloomberg explained. BitRiver currently has 15 data centers with a total capacity of more than 533 MW, where more than 175 servers are located.
Legalizing mining could help Russia alleviate problems with cross-border payments that have arisen due to sanctions, Lauren Lin, head of business development at Luxor Technologies, told Bloomberg.
On August 8, Russian President Vladimir Putin signed a law on the legalization of mining. The document will come into force on November 1, 2024 and will allow individual entrepreneurs, companies and citizens to mine cryptocurrencies in the country.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
