- Bitcoin mining has arrived in the Arctic Circle as BitCluster has set up a site there
- The Russian company already has several sites in the country, but this is the farthest north
- BitCluster’s new Bitcoin mining site will make use of the freezing temperatures and dedicated power supply
When it comes to siting a Bitcoin mining farm there are certain natural conditions that prospective miners look for, one of which is a cold environment. Cryptocurrency mining equipment gives off a heck of a lot of heat, so keeping it cool is an ongoing battle for operators, and one that eats up operational costs. As Bloomberg reports, Bitcoin mining firm BitCluster thinks they have found the perfect place to set up camp to greatly reduce issues of cooling – the Arctic Circle.
Bitcoin Mining Heads North
Bitcluster is a Russian Bitcoin mining hosting company founded in June 2017. They currently have four sites in Russia with over 12,000 ASIC miners between them, but not satisfied with carrying out Bitcoin mining in some of the coldest parts of the country, BitCluster has decided to go one better and set up a facility in Norilsk, a city in north Russia that is within the Arctic Circle, making it the first such facility to earn this honor.
Norilsk can reach temperatures of -40 °C in the winter, making it one of the coldest inhabited places on the planet and is so remote that locals refer to the rest of Russia as “the mainland”. These conditions make it perfect for Bitcoin mining, with BitCluster able to cool their mining equipment far more effectively by pumping in the freezing air from outside.
To The Moon?
Like other newer Bitcoin mining farms, the Norilsk site is a former metal mine that has been repurposed for BitCluster’s use, which holds a secondary appeal due to its dedicated power supply that used to feed the plant. The owner of the former nickel plant, Norilsk Nickel, has coincidentally also joined the crypto race, selling its product via digital tokens since December.
With Bitcoin mining operators searching for ever colder places in which to set up, we wouldn’t be surprised if in a few years we’re reporting about the first Bitcoin mine on the moon, where temperatures drop to -173 °C.