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Russia and BitRiver to Launch Crypto Mining Hubs Across BRICS Nations

Russia and BitRiver, a big company that mines cryptocurrency, are going to make places where people can mine cryptocurrency in the BRICS countries.

Russia, working with its top cryptocurrency mining company BitRiver, has announced plans to build crypto mining data centers in BRICS countries. This plan, shared at the BRICS Business Forum in Moscow on October 18, shows Russia’s dedication to growing its role in the global cryptocurrency market and advancing artificial intelligence (AI) development.

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RDIF and BitRiver Partner for Global Crypto Mining Expansion

Russia and BitRiver: The Russian Direct Investment Fund (RDIF) and BitRiver have entered into a partnership to jointly construct data centers in BRICS countries. This partnership wants to help Russia become a leader in the world of computers and prepare for big projects that use artificial intelligence.

Igor Runets, CEO of BitRiver, outlined the vision behind the initiative, stating, “Working with the Russian Direct Investment Fund, we’re going to create an infrastructure base based on crypto mining. We will construct the data centers and connect them with an available capacity for utilization. Through that, we will be able to deploy and implement AI projects.”

BitRiver currently operates 21 data centers in Russia, with plans to expand its network by an additional 10 facilities. These new places will help meet the need for more powerful computers and also help Russia make better artificial intelligence.

Although specific agreements with individual BRICS countries are not finalized yet, both RDIF and BitRiver are confident they can take advantage of opportunities in areas with limited high-performance computing resources.

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BRICS Nations Eye $370 Billion GDP Boost with AI and Crypto: Russia and BitRiver

The BRICS nations have a lot of economic potential in AI and cryptocurrency. Experts predict their combined GDP could rise by $370 billion each year because of advancements in AI-powered businesses. This shows that industries like crypto mining and AI will be very important in shaping the future of the global economy.

Russia and BitRiver are strategically positioning themselves to take advantage of this economic opportunity. While cryptocurrency mining was once a niche activity, it has now become a cornerstone of Russia’s strategy to secure a central role in the evolving digital economy. Moscow was initially unsure about cryptocurrencies. Now, it has accepted crypto mining. This allows Russia to use its extra energy to make a profit.

Russia and BitRiver: Moreover, Russia’s state-owned energy giant, Gazprom, has developed a crypto-mining subsidiary, signaling broader governmental support for the sector. Russia is excited about cryptocurrency mining, and this includes local governments. The Komi Republic just said they want to build two new places for cryptocurrency mining. These places will cost about $27.6 million. They are also planning to build 13 more places in the future. This shows that Russia is really committed to the cryptocurrency industry.

For Russia, cryptocurrency mining is more than a way to make money. It is a tool to bypass Western sanctions. This approach helps Russia keep control of its finances.

As Russia gets ready for the BRICS meeting in Kazan from October 22-24, cryptocurrency mining and artificial intelligence are expected to be the most important topics. The work of Russia and BitRiver will not only help them in the cryptocurrency mining industry but also strengthen the entire BRICS group, allowing the member countries to become more competitive in the world economy.

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In conclusion, Russia and BitRiver partner to boost cryptocurrency mining in the BRICS countries. They create facilities for mining and artificial intelligence to take the lead in these fast-growing industries. This strategy focuses on making money and helps Russia deal with the challenges from Western sanctions. By using cryptocurrencies like Bitcoin, Russia hopes to maintain its financial independence.

The BRICS nations could see a $370 billion GDP boost from AI and crypto advancements. The partnership between Russia and BitRiver is set to improve economic competitiveness and technological innovation in the BRICS alliance. As the BRICS summit gets closer, Russia’s leadership in these fields will likely strengthen its role in shaping the digital future of the global economy. This move shows Russia’s commitment to promoting growth in the AI and cryptocurrency industries.

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Disclaimer

The content presented here may express the author’s personal opinions and is subject to change based on market conditions. It is crucial to conduct your own market research before investing in any cryptocurrency. Neither the author nor this publication assumes any responsibility for any financial losses you may incur.