Siberian Mining Region Attracts Trusted Third Parties.
Cyberian Mine has signed a trilateral agreement with the Investment Development Agency in Irkutsk.
Amidst the enormity of Northern Asia, the city of Irkutsk is the de-facto capital of Eastern Siberia. Pre Russian revolution, it was nicknamed ‘East Paris’. Today it is best known for its fine wooden buildings with colorful mosaic facades, revived churches decorating the embankment of the Angara river, classy eateries and somewhat less touristically… low-cost electricity. Very low cost.
$0.03 per kilowatt-hour
Flush with power from Soviet-built hydroelectric plants, the region charges just 2.1 roubles ($0.03) per kilowatt-hour, compared with 5.3 roubles in Moscow. This is the lowest-priced green electricity anywhere in the world. For those of us who don’t give their utility bills more than a glance, $0.03 per kWH is nearly one tenth of what you’d pay in a European city. In Berlin, for example, where the Cyberian Mine offices are, a kWh costs about EUR 0.26, or $0.29.
Irkutsk is where we host your cryptocurrency mining machines for you at Cyberian Mine. Combine the low-cost electricity with the region’s low ambient temperature and rock bottom operational costs and we’re able to offer an excellent profitability level for anyone looking to get into mining, either as a passive income hobby or a fully-fledged business.
Trilateral agreement
Keen to forge even stronger relationships in the region, our CEO Max Matrenitski recently travelled to Irkutsk to sign a trilateral agreement with the Investment Development agency and BiXBiT from Belarus.
The agreement ensures cooperation, development and support between innovative projects aimed at increasing the production potential and infrastructure development of the Irkutsk region.
“The government supports projects that are localized in the region and pay taxes to the regional budget,” said Yevgenia Vasichenko, deputy minister of economic development of the region.
Located in the capital of Belarus, BiXBiT specializes in the development of modular immersion cooling systems for computing equipment. Immersion cooling extends lifespan, eliminates noise, dust and debris, reduces operating costs, saves energy, increases hashrate and allows you to reuse heat from the computing equipment. All of which offer mining operations incremental advantages in terms of efficiency and ROI.
We’re thrilled to be in talks with BiXBiT about how we can be of mutual benefit to each other moving forward.
UPDATE: Bitcoin has never been more popular
Last week, the cryptocurrency hit a significant milestone — its market share grew to 70% of all cryptocurrencies. Bitcoin has 70% of the entire crypto market, ethereum 7% and all the remaining crypto 23%. The bitcoin hash rate has hit record levels, meaning bitcoin miners — many of whom are hosting their machines with Cyberian Mine — are participating in the network like never before.
This is the highest bitcoin dominance since 2017 when ICOs bamboozled the crypto market, funds flowed into ethereum and dominance fell to a low of 28%.
But regulators started to question the ICOs and some were fined for being unregistered securities. Fast forward 12 months and much of the money people didn’t lose in those projects has flowed back into bitcoin.
At Cyberian Mine, we focus on using Irkutsk’s low-cost, clean power to offer our customers an extreme advantage and exceptional ROI compared to other mining locations. Even if you’re an absolute beginner, you can still mine like a pro and without having to sink any time working on the machines yourself.
Bitcoin halving
Every four years, along with the Olympics and US Elections, the amount of bitcoin that gets generated every ten minutes gets cut in half.
The next halving — bitcoin’s third — will take place in May 2020. To be more precise, the current block reward every ten minutes is 12.5 bitcoin. After May next year, this will be 6.25.
Historically, halvings have been an important catalyst in pushing bitcoin towards a bull market. This is because scarcity enhances value. Due to its limited supply, bitcoin will continue to become increasingly scarce.
Cyberian Mine currently has 6MW of machines running for our customers and shareholders. We are in the process of building a 10MW facility, to be completed in the next 4–6 months, and we also are exploring the possibility of procuring capacity for a further 7MW alongside one of our Irkutsk partners.
The time is now
If you’re ready to begin your mining adventure with Cyberian Mine, the first port of call is our free Telegram group, where we share all the latest details about our mining machines and hosting opportunities before anywhere else.
Follow the link below to join.
Originally published at https://cyberianmine.de on September 12, 2019.
