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Data centers and cryptocurrency mining facilities are similar in many ways. They both require a lot of areas, high tech equipment and are in constant need of supervision to make things smooth and profitable. A new Russian data center-cum-cryptocurrency mining project RedStone is currently being constructed in Krasnokamensk, Russia and is aiming to become the new home for digital currency mining in Eastern Europe.
The whopping 50 MW facility will start operations from June 2019 and will enjoy a range of beneficial geographical conditions including low temperatures throughout the year, access to water for cooling, cheap electricity, and more. It is normal for data centers to be operated in colder climates with nearby water sources cryptocurrencies can be mined more efficiently in these conditions.
A Project of Telecor
The giant cryptocurrency mining project is being constructed by Telecor, a Russian engineering conglomerate with 500 projects completed during the last 15 years. Its considerable expertise covers projects in telecommunications, power grids, and power plant upgrades.
The company’s experience with power projects will especially be helpful for the successful running of the Redstone power project. The first 50 MW facility will be fed electricity from off-the-grid non-nuclear thermal power plant being operated by Rosatom, the largest power company in the country and patron of the state nuclear project. The Telecom network is also being provided by Rosatom’s Communications Division Rostelecom.
CEO of Telecor, Andrew Chernoknizhnikov said the following regarding the new project:
“Amid predictions about constant increase in electricity prices, Telecor is able to fix service prices provided at Redstone for the next 10 years, it is an important and valuable benefit for our customers.”
A New Dawn for Cryptocurrency Mining
The Russian authorities have expressed an interest in economic development and job creation at the new facility in Krasnokamensk and the local administration is eager to help out because it will create many new jobs in the area. The town is located in the remote Siberian region near the Chinese border and the land has already been acquired and civil works have started.
Miners will be allocated high-tech facilities including high-speed internet connection, maintenance, and inspection from experts, help in customs clearance of equipment and vast physical space if required. According to the official website, the power will be provided to the miners at a competitive 5 cents per Watt, up to 5 MW demand. Phase 1 of the project is expected to launch in May, 2019 and the project is already accepting applications from clients around the world.
To find out more information visit the Redstone Mining website– www.Redstonemining.com