Russia plans to catch up and get ahead China in cryptocurrency mining

Russian Miner Coin – the company who wants to challenge China in cryptocurrency mining. This corporation, partially owned by one of the Russian Federation President’s advisers, is further described in the report by Bitcoin.com.

The strategy of Russian Miner Coin includes mining of the sum equivalent to $100,000,000 and overthrow China from the first place it holds as the world’s mining leader. To challenge this country in the sphere of mining, Russian Miner Coin is developing the new digital asset and plans to sell tokens. These RMC tokens, Fortune reports, will be sold for bitcoins or ethers, the token holders are guaranteed an 18% of this corporation’s business income.

Russia’s potential in cryptocurrency system development was lately praised by the Internet ombudsman of the country, Dmitry Marinichev. He is confident that Russian Federation will be able to take 30% of the world’s cryptocurrency mining in the future. The ombudsman also noted that to power the equipment and to minimize costs, Russia plans to use the semiconductor chips designed for satellites.

Mining is energy-consuming. But, as Fortune states, Russia has 20 gigawatts of excess capacity and cheaper power prices than in China. But the latter has more experience in cryptocurrency mining and crypto protection. Keeping this all in mind, one cannot yet say for sure which world power will win.