Russia Partners with BitRiver for Mining Centers

Russia's BitRiver, in collaboration with the Russian Direct Investment Fund (RDIF), has announced plans to establish cryptocurrency and AI data centers across BRICS nations during the BRICS Business Forum in Moscow on October 18, 2024. This initiative aims to enhance Russia's global computing capacity and reduce reliance on Western technology, addressing a global shortage of energy-intensive data centers. With BitRiver already operating 21 data centers and 10 more under construction, the partnership seeks to bolster economic growth, create skilled jobs, and increase liquidity in cross-border settlements. The BRICS alliance, representing over 40% of the world’s population, includes Brazil, Russia, India, China, and South Africa, and has expanded to include other nations. Additionally, President Putin's recent legalization of Bitcoin mining reflects Russia's commitment to advancing its digital economy and offering BRICS partners the use of digital currencies for investments. The collaboration is positioned to leverage Russia's experience in crypto mining and AI technologies to create a self-sufficient technological ecosystem within BRICS countries.