Investor buys Russian power stations to use them for crypto-currency mining

By Andrei Skvarsky.

A Russian private investor has bought two comparatively small power stations in Russia to convert them into facilities for crypto-currency mining.

Alexei Kolesnik, who bought the stations from Russian billionaire Viktor Vekselberg, told Moscow-based business daily Kommersant that he planned to put off mining until Russia brought out legislation on crypto-currencies and that for the moment he would focus on setting up a data centre.

One of the stations, Kizelovskaya GRES, is situated in the Perm region and is 1,600 kilometres (1,000 miles) east of Moscow. The other, Sarapul Heat and Power Station, is located in Sarapul, a city 1,200 kilometres (750 miles) east of Russia’s capital.

Kolesnik paid a total of 159 million roubles ($2.76m) for the stations, according to Kommersant.

Both stations are fuelled by natural gas.

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