Sanctioned mining firm BitRiver sees crypto interest surge among Russian oil majors
Russian Bitcoin mining firm BitRiver says the country can become a leader in the global industrial crypto just within a few years. According to BitRiver CEO Igor Runets, Russia has enough resources to become a global leader in crypto mining using associated petroleum gas (APG) as other countries such as the U.S., Canada, Kazakhstan and others have also successfully piloted this method of mining, Russian media outlet RBC reports. Runets revealed that BitRiver’s operational data centers powered by APG currently account for at least 50% of the entire mining market segment, adding that the firm is witnessing “growing interest from major Russian oil and gas companies in developing APG mining .” As per Runets’ calculations, Russian crypto mining sector is capable of recycling up to 10 billion cubic meters of APG per year, which is, approximately, half the volume currently flared annually. You might also like: Bhutan spends 5% of its GDP on mining bitc...