BGV

Apr 6, 2021

3 min read

Unbelievable! Russian Siberian military mines bitcoin!

It is unbelievable. Among the countless bitcoin miners around the world, you probably never expected a super player such as the Russian army!

According to the Russian Ministry of Defense “ Zvezda”, a hydroelectric power station near Irkutsk in Siberia hides a huge cryptocurrency mine, and the Russian army is mining for bitcoin.

NGK Blockchain

Siberia is covered with snow and cold weather throughout the year. The local cold climate can be as low as minus 40 degrees. It is one of the coldest places on earth. The “mine” provides good heat dissipation conditions. At the same time, water and electricity costs are low here, which can greatly reduce mining costs and maximize the interests of “miners”.

Now, the Bitcoin market is skyrocketing, and it is very competitive to be able to mine under such conditions! It is said that this huge “mine” is divided between the Russian army and private investors.

According to a report by Bloomberg in January, a Russian company, Bitcluster mines Bitcoin in the Siberian city of Norilsk, located above the Arctic Circle. According to the company’s co-founder, VB, the electricity in the polar regions of Siberia is a quarter lower than Russia’s power grid, and Norilsk can create its own electricity through natural gas and hydroelectric power. The company costs as little as 2.75 rubles (approximately US$0.039 per KWh) to obtain electricity.

NGK Blockchain

Compared with electricity prices in other regions, electricity in Siberia is nearly half cheaper. The cost saved is the profit directly converted. No wonder the Russian army must go to Siberia to mine.

In fact, Russia is not the first military involved in mining.

At the end of last year, the 61st Battalion of the 6th Engineer Corps of the Venezuelan Army of Latin America directly installed hundreds of ASIC mining machines, and even built a maintenance center to refurbish and repair the old or damaged mining machines.

This is also the first Bitcoin mining center built by the Venezuelan military, headquartered in the military camp of Fuerte Tiuna in the capital. Venezuela is rich in oil resources and the cost of electricity is quite low, which creates good conditions for Bitcoin mining.

At that time, the Venezuelan army was mining, and the BTC price was only about US$18,000. As of March 9th, the BTC price has climbed to US$53,500. In less than 4 months, the increase reached 197.22%. For Venezuela, which is in economic trouble, this is a great income.

NGK Blockchain

It seems that mining is a piece of meat. Russia and Venezuela simply use military forces to mine! The troops of other countries are all on the field, are you excited?

Let’s look at NGK. Its VAST tokens went online on the first day and rose to $154. VAST, the Chinese name Visa token, is the sub-coin of the SPC computing power reward token in the Starry Sky Project, and it is mined with a decentralized protocol. The VAST token will be launched on the world’s leading mainstream exchanges in 2021, and the SPC computing power reward tokens will also be listed in the corresponding sections of the leading exchanges. At that time, the relevant sections of NGK will complement each other, promote each other, and jointly create a new NGKEX, constantly promoting the liquidity between various cryptocurrencies. For example, the basis of NGK’s rise is that there are fewer circulating cryptocurrencies in the market, and the price of NGK will increase.