Name: Bitcoin bonanza for remote Siberian data center
Uploaded: 2021-03-11T19:01:08.000Z
Duration: 2 min 14 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

this data center, maybe in the middle of nowhere, Siberia, to be exact.

But it is right in the heart of the booming Cryptocurrency phenomenon.

The vast data center run by Russia's Bit River is capitalizing on cheap local hydro electric power to reap the rewards of Bitcoins heavy reliance on computing power and electricity To fuel the cryptocurrencies global rise, Bitcoin has earned or mind by using a computer to help process the uncrackable digital transaction record that underpin the digital currency, which requires an unspeakable amount of energy.

That's where bit river comes in, says Ivanka.

Yep, he's the deputy director general of the company's Cryptocurrency Mining Center.

Our installed capacity is 100 megawatts per hour.

Around 70,000 units of equipment are installed here in this data center, which is the largest in the post Soviet era.

We have contracts with over 80 clients from every region around the globe, and Bit River is planning to expand its capabilities to provide it services on the cheap to even more of the Bitcoin industry.

Another 100 megawatt data center is already under construction Bitcoin, the notoriously volatile Cryptocurrency, is in the midst of a surge right now.

The price has catapulted almost 300% since the start of November, topping $50,000 for the first time as it catches on with small investors and corporations like Tesla alike.

But there's a downside to Bitcoin's popularity.

It exacts a toll on the environment due to its large carbon footprint.

In order to reduce that bit, River data centers are built in regions where there is surplus electricity and renewable energy sources nearby operating 90% on green power.

 It's also leveraging the eight month long Siberian winters, which helped keep data centers from overheating, as the machines work feverishly to meet the demand for more Bitcoins. 