The governor of the Republic of Buryatia signed a decree authorizing the construction of a data center of 13.6 hectares in southeast Siberia. The facility will be home to a number of high-tech companies, including Bitcoin (BTC) mining.

The plant will be built by BitRiver and is expected to create up to 100 jobs. It will be equipped with the latest generation ASIC miners and will take around one year to complete. In addition to cryptocurrency mining, the facility will be used for big data and the Internet of Things. The investment needed is estimated at 691 million rubles, or $ 0.9 million, to be provided by investors from the United States, China and Japan.

Siberia is one of the most attractive destinations in the world for Bitcoin mining. Abundant natural resources mean lower energy prices, and the cold climate means miners do not have to spend much energy on cooling. The proximity to China, the main manufacturer of mining equipment, will also make the company’s supply chain more efficient.

However, it is possible that these benefits will be offset by the legal uncertainty surrounding the regulation of cryptocurrency mining in the region.

Source: CoinTelegraph

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