Russian aluminum plant Nadvoitsy Aluminum, owned by Russian metal giant Rusal facing US sanctions, had close down its production last year. Now the company has given its land to the cryptocurrency mining firm, Russian Mining Company (RMC).
According to the Moscow Times report, Nadvoitsy Aluminum gave part of the production site to RMC, which plans to ramp up bitcoin mining across Russia. Dmitry Marinichev, Russia’s internet ombudsman and RMC founder, said, “Now the plant is unprofitable for Rusal, the electricity supplied to it is barely utilized, and people living in the single-industry town near the plant have nowhere to work.”
According to the RBC report, the aluminum plant had become unprofitable, and the electricity supplied there was not being used, and it also affected the local employment. RMC plans to turn the plant into a specialized data center and sell its computing power as a service. Dmitry Marinichev established RM back in 2017.