Foresight News reports that the Russian government, in collaboration with the domestic cryptocurrency miner BitRiver, is embarking on an ambitious plan to establish a network of mining data centers across BRICS nations. This strategic initiative involves the Russian Direct Investment Fund (RDIF), further highlighting the increasing integration of cryptocurrency mining within the global economy.
The announcement was made on October 18 during the BRICS Business Forum held in Moscow, marking a significant step in enhancing Russia's influence in the cryptocurrency sector. Currently, BitRiver boasts 21 operational data centers within Russia. The company is expanding its footprint with plans to construct an additional 10 mining centers located across BRICS countries, signaling a bold commitment to bolster its mining capabilities and foster international collaborations.
This expansion is expected to leverage the unique economic conditions and resources available in the BRICS member states, thus maximizing the efficiency and output of the cryptocurrency mining operations. Investors and stakeholders closely monitoring the cryptocurrency landscape will certainly take note of this development as it not only represents a technological advancement but also a geopolitical maneuver in response to changing global dynamics..