We can’t just talk about the large-scale or industry-scale mining of cryptocurrencies without mentioning China, India and currently Japan. In it, particularly in China, where humongous factories filled with sophisticated and super-effective mining rigs and other equipment literally make others in other countries a joke. It isn’t, therefore, a surprise why this Asia powerhouse controls an incredible 71% of the global cryptocurrency mining space.
But in a bid to wrestle the state-of-the-art Chinese plants and be the headquarters of the cryptocurrency mining industry, Rusal is set to commission an earthshaking center in Russia. The data center, Mining Now, set to be situated in the cold Nothern Russian area of Karelia, specifically in the Nadvoitsky aluminum plant will accumulate almost 1% of the entire world hash rate.
What Is Mining Now?
Rusal has partnered with AA!LAB on this record-breaking project and the sheer number of computing units say it all. With a whopping 5,000 computing units of workstations and servers for the first phase of it, certainly, it will be a massive project. Essentially, having AA!LAB – the Bulgarian-based company owned by Alexey Zenkov, a Russian programmer is beneficial for the whole project.
As the news outlet Coinfox.info reported, the whole project will undoubtedly send shockwaves across the cryptocurrency mining industry. The first unit of the data center with 5000 computing units of servers and workstations will be launched by the third quarter of 2018. And within the industry will be a spot where high-tech IT services where large chunks of data and machine learning will be taking place.
Choosing Karelia as the most suitable for the high-tech data center isn’t a coincidence. It is a cold place that will come in handy in cooling the mining rigs. Also, it is the electricity from the Rusal-owned Onda hydroelectric power station that will primarily power up the plant.
Mining Now MNW ICO Details
Mining Now is an already-existing mining plant with the hopes of re-investing the incomes it will amass on itself, primarily by increasing the efficiency of the entire project. It is based on the Ethereum blockchain and is thus stable, transparent and decentralized.
The best thing about the entire project isn’t just the extensive capabilities it has. As much as it will be a threat to those industry-sized projects, it will function a lot like an industry whose profits cultivated back into the business.
Funds raised from the coins mined as well as the token sale, according to its website, will go into increasing the generating capacity of the center. The milestones on the website say it all, and the targeted power generating projects will be situated in:
The English version of the website has no Whitepaper, but according to the Roadmap and Structure of sharing the returns, everything is quite clear. Parties will sign legal documents detailing their shares. Types of payments accepted during the ICO will be ETH, BTC, and fiat. Everything else, including the price of the MNW tokens, is elaborated further on the website: miningnow.online/en/