RACIB is one of the biggest organizations and communities of crypto enthusiasts in Russia. It works with federal and local authorities to create new opportunities for mining in the country. Recently, the representatives of the government and the organization discussed a new initiative.
The recent wave of mining bans in China created new opportunities for those who want to fill the void while many Chinese mining companies are interested in moving elsewhere. The main destinations for these companies are Kazakhstan and USA but the situation may soon change.
The big RACIB’s project is centered around the creation of new mining hubs using alternative renewable power sources. Note that the main reason behind the Chinese bans is the effect mining can have on the environment due to increased power consumption.
RACIB’s experts believe that Russia is ideal for miners: a much colder climate won’t demand for stronger cooling systems and the presence of relatively inexpensive energy producers can increase mining profits. A strong national electrical grid is less prone to shutdowns and power shortages.
Note that the main goal of the project is to create more attractive conditions for Chinese investors and miners looking for new places to place their rigs!