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Russia’s largest data center operator, BitRiver, has teamed up with the Russian Direct Investment Fund (RDIF) to establish mining and AI computing facilities across BRICS nations.
This collaboration, announced at the BRICS Business Forum in Moscow, aims to enhance Russia’s influence in the global computing market, particularly in cryptocurrency mining and artificial intelligence.
The initiative is part of Russia’s strategy to strengthen its position as the world’s second-largest crypto mining market, trailing only the United States. BitRiver currently operates 21 data centers in Russia and is in the process of building 10 more.
Their focus will be on developing an infrastructure that supports AI project development alongside cryptocurrency mining.
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RDIF, a sovereign wealth fund, has made significant investments across various sectors, backing over 100 projects with a total of 2.2 trillion rubles (approximately $22.7 billion).
This partnership aligns well with Russia’s recent regulatory framework for cryptocurrency mining, which requires miners and data centers to register and adhere to energy consumption limits.
This law also governs international mining partnerships, facilitating cross-border cryptocurrency transactions.
For BRICS countries, this expansion represents a move towards reducing reliance on Western technology providers and fostering independent technological infrastructure.
Russia’s entry into the AI and crypto mining sectors is expected to enhance liquidity and financial inclusion, particularly in BRICS regions.
As more data centers are established, increased competition in global crypto mining could lead to greater engagement with blockchain technologies and wider adoption of Bitcoin worldwide.
