The Anglo-Russian energy and metals company begins mining Bitcoins

The Anglo-Russian energy and metals company begins mining Bitcoins

En + Group is increasing its interest in cryptocurrencies and setting up its own Bitcoin farm.


5 Nov 2020 , 12:03 @ Thomas Alford

The Anglo-Russian energy and metals company begins mining Bitcoins

En + Group is increasing its interest in cryptocurrencies and setting up its own Bitcoin farm.

En + Group is the world’s largest independent hydropower generator in the world and according to today’s announcement from The Block, is beginning to focus on cryptocurrency mining. The company was merged with BitRiver, the largest crypto mining hosting provider in Russia, to form a company called Bit +.

Both companies confirmed today that the first phase of Bitcoin mining under the Bit + brand has already started and is operational. According to published information, it works with 10 megawatt-hour, which is provided by En +.

We actively support the development of data centers in the Irkutsk Region. Our energy assets in the region produce low-carbon, inexpensive electricity from renewable sources, and we are able to offer surplus energy to these partnerships,

Mikhail Khardikov, head of En+ Group’s energy business

Russia’s Bratsk operation is one of the strategic locations for the management of this company, mainly due to the large reservoir located here.

We are delighted to provide our extensive expertise in sustainable cryptocurrency mining. Together we decided to use a modular design for testing this new business model, based on its efficiency in terms of organizing and managing the business

Igor Runets, founder and CEO of BitRiver.

In terms of numbers, a 10 megawatt-hour hydropower plant, combined with Bitmain’s AntMiner S19 Pro, can achieve 250 (PH / s). This means that under current mining conditions it can produce an estimated 2.2 BTC in 24 hours.

The energy gigant should have a total of 5,600 units of AntMiner S19 Pro running with a consumption of 25 megawatt-hour of electricity and a computing power of more than 600 PH / s. The last goal is to expand mining activities up to 40 megawatt-hour.

Read also: On average, up to 39% of proof-of-work mining is powered by renewable energy

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