Russian intends to re-equip an abandoned children’s camp near Minsk into a large cryptocurrency mining center
A resident of Belarus with Russian roots Igor Davydov intends to reorganize the abandoned children’s camp “Domanovo” near Minsk into a large center focused on cryptocurrency mining. The real estate portal Realt.by writes about it.
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A children’s camp with 15 hectares of land and seven three-story dormitories put up for auction is estimated at 428 thousand Belarusian rubles (~ ₽12.2 million). According to Davydov, abandoned buildings cost a penny, and in Russia it is not so easy to acquire such objects.
“This is a real opportunity for you to embody some commercial ideas,” he said.
Davydov admits: it will hardly be possible in the near future to compete with the Chinese or Iranians, who have deployed large-scale mining centers, due to the cost of electricity in Belarus. Nevertheless, he stressed that he was already consulting with lawyers and exploring the possibility of “applying reduced electricity tariffs for organizations of one form or another.”
For the first time, Davydov intends to use only part of the buildings exclusively for the extraction of cryptocurrencies. The children’s center, he said, may not have a commercial benefit, but a social one.
“Given the size of the complex, we can develop several charitable initiatives on its basis at once,” he said.
For example, a native of Russia believes that on the site of abandoned buildings it is possible to form a rehabilitation department for children, warehouses to help the poor or an animal shelter.
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At the same time, the cost of restoring the complex, according to Davydov’s estimates, will be at least $ 900 thousand (~ ₽65.7 million). Davydov included the cost of the camp itself, the purchase of 550 video cards in the amount of $ 247,400 and the cost of conducting his own initial token placement ( English ICO). Davydov plans to raise funds through fundraising.
Belarus has long been considered one of the world’s cryptohubs. The country is one of the seven states that have officially abandoned the taxation of transactions with cryptocurrencies. The mining community is also gradually developing in Russia. As the editors of BeInCrypto reported, Norilsk has become a new hub for miners of the bitcoin cryptocurrency. Since the beginning of last year, the city in the Krasnoyarsk Territory has increased its capacity in the cryptocurrency market with the BitCluster company.
Read about why mining has become popular again in the post-Soviet market in a special material from BeInCrypto.
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