A new mining center based in Russia called Redstone is nearing completion of construction. Operations of the estimated 50MW center begin in June of next year, with phase 1 of the Redstone site will be ready for move-in beginning in May, however, and the data center is already accepting client applications.
The mining center is expected to be a hit with miners from China and Russia, as well as all over the globe. Being close to the Chinese border and Manchuria’s airport allows this center to tap into one of the largest bitcoin markets in the world: China. Located in the Russian city of Krasnokamensk, the center will benefit from cheap electricity, accessible water for cooling, as well as an annual average temperature of 2 degrees Celsius that will help contribute to keeping equipment cool.
Another competitive advantage this data center will have over others is the capacity to generate its own power due to their own off-the-grid generator. Redstone is located right next to a coal power planet ran by Rosatom, a partner of the project. High-speed internet connection will be provided by Rostelecom, the largest digital services provider in Russia.
Along with this. construction of the site will be overseen by company Telecor, a massive Russian engineering company. In the last decade and a half alone, the company has completed over 500 projects in related industries such as engineering, automation, and IT.
Prices and the Future
Not only are potential clients able to request allocation of equipment already, but Redstone is already quoting an affordable flat rate fee of 5 cents per Kilowatt hour up to 5MW, or 10% of the data center’s capacity. Redstone also is willing to negotiate special rates for clients requiring more than 5MW. Bitcoin miners will be relieved to hear that these prices are locked in for the next ten years, due to long-term contacts Redstone has in place that keep electricity costs fixed.
CEO of Telecor, Andrew Chernoknizhnikov had these words to say about fixed service prices:
“Amid predictions about constant increase in electricity prices, Telecor is able to fix service prices provided at Redstone for the next ten years, it is an important and valuable benefit for our customers.”
Horror stories of miners being forced to relocate due to new legislation that rescinds once eligible miners for cheap electricity are becoming more common as regulatory bodies around the world are cracking down on cryptocurrency mining. Miners do not need to fear for the next decade at least with this Russian based location. Andrew continues:
“Due to low costs and own energy generation at Redstone, which are for sure some of the most important benefits of this site, our company could offer very low prices, probably the lowest, not only in Russia but throughout the world.”
Russia is excited for the economic implications the construction of this data center will have for the country, attracting a number of jobs required to operate the data center as well as an influx of international talent and revenue.
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