It’s a known fact that Russia is currently one of the most crypto-friendly countries in the world, and is currently in the midst of regulating the growing cryptocurrency industry.
This week, Russia made headlines with the launch of its new, largest cryptocurrency farm developed by a company known as the Kriptoyunivers. The news comes courtesy of a South China Morning post, that also provides various features about the farm.
For example, the mining farm is located in a former Soviet fertilizer-production laboratory in Kirshi, 180 km south-east of Saint Petersburg. Other interesting details include the fact that the farm has an area of 44,000 square foot and that it will be the home to extended Bitcoin and altcoin mining operations.
Quite interestingly, the laboratory was abandoned for almost 20 years. The Investment for the site cost the company somewhere around 500 million Roubles which translates into $7,4 million.
Alexei Korolyov, the co-founder of the Kryptoyunivers center, described the farm in the following comment: “This is the largest and so far the only farm in Russia that offers the full cycle – not just producing cryptocurrency but also offering services to those who do the mining.”
Russia – one of the best countries for crypto farms
This crypto farm will most probably be a very good starting point for Russia in its journey to accept and adopt cryptocurrencies. Currently, the country is in the process of regulating cryptocurrencies, even though, not too long ago, the Russian government displayed an ambiguous stance on the cryptocurrencies.
Russia has an ace up its sleeve thanks to its cold weathers and vast territory. These factors alone are enough to make Russia one of the best countries for large-scale cryptocurrency farm expansion.