BRICS: Russia to Launch New Cryptocurrency Mining Data Centers Across Member Nations

Russia is set to develop new cryptocurrency mining data centers across the BRICS nations, teaming up with BitRiver, the country’s top mining operator.

This announcement came during the BRICS Business Forum in Moscow on October 18, where officials highlighted a focus on enhancing the nation’s computing capabilities, particularly in artificial intelligence (AI).

BitRiver, which has established a network of 21 data centers in Russia and is building an additional 10, will partner with the Russian Direct Investment Fund (RDIF) to expand its reach into Brazil, India, China, and South Africa.

The initiative aims to create a robust framework for AI development, featuring high-capacity data centers designed for demanding computing tasks.

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Igor Runets, BitRiver’s CEO, stated, “Our partnership with RDIF will prioritize the development of mining infrastructure, ensuring our data centers are equipped to support AI projects effectively.”

Founded in 2011, the RDIF has a track record of co-investing in various sectors, amassing investments worth over 2.2 trillion rubles. Kirill Dmitriev, the fund’s CEO, stressed that increasing computing power for AI is vital for Russia and its BRICS counterparts. He pointed out that the current lack of energy-efficient data centers worldwide presents a strategic opportunity for Russia to utilize its technological expertise.

Alexander Stefanov