https://www.bloomberg.com/news/articles/2017-08-08/putin-s-aide-seeks-100-million-to-rival-china-in-bitcoin-mining Todays bitcoin mining requires special computers based on chips with minimized power consumption. Chinas Bitmain Technologies Ltd. is one of the leading producers of such equipment and also runs Antpool, a processing pool that combines individual miners from China and other countries. Rival Bitfury Group, founded by Valery Vavilov, a Russian-speaking native of Latvia, produces equipment for mining virtual currencies and runs large-scale centers in Georgia and Iceland.
Russia has 20 gigawatts of excess power capacity, with consumer electricity prices as low as 80 kopeks (1.3 cents) per kilowatt hour, which is less than in China, RMC said in the presentation. The company initially plans to locate mining computers based on Bitfury chips in individual Russian households to challenge Bitmain by using Russias lower power prices.
Now this is getting interesting. And when Russia joins the mining ecosystem, you know that the US is not simply going to sit back and relax. They will jump in too eventually.
The Chinese mining monopoly has it's days countered. It's time to fire Jihan.