Experts in the crypto industry have formed a group to develop a standard for profitable and energy-efficient cryptocurrency mining in Russia. These rules will help developers and data centers operators to offer investors more hardware uptime.
Russia Plans to Increase Efficiency of Mining Facilities by 2023
A group of crypto experts has come together to create a standard to improve the efficiency of mining, and the energy used to make digital currencies. This set of rules and procedures is designed to improve the performance of expensive data processing equipment under optimal load. This should lead to higher profitability.
According to Bits.media, the standard will be available for adoption in February 2019.
At a Moscow crypto summit, the decision to create the group was made during a presentation by Racib, a mining data center operator Vekus Mining Development, and Yuri Kudryashov (director of Russia's Research Institute for Sustainable Development in Construction).
The forum's main purpose was to discuss the development of digital assets and the digital environment in general. Participants also discussed the Russian legalization of mining and other issues related to blockchain and cryptocurrency, including the introduction of digital currencies by the central banks and tokenization. Education and security were also discussed at the summit.
Crypto Mining Farms to be Reliable with a New Standard
Yuri Kudryashov believes that a scientific approach with computer-modelled temperatures and speeds should improve the quality engineering solutions for mining module modules. The official explained that it should allow for proper calibration of ventilation systems taking into consideration indicators such as humidity, season and location.
Vera Burtseva is the strategic marketing director for Vekus Group. She stated that the efficiency standard that the group has been charged with developing will decrease downtimes due to severe weather conditions and minimize maintenance costs, while increasing equipment's service life and operating time.
This new standard will be integrated into Russia's national system for sustainable development in the construction sector. Similar principles have been used in the construction of housing, in the tourism industry and in the construction of traditional data processing centres.
The federal regulation of cryptocurrency mining is still to be established. This industry, which is growing in energy-rich regions throughout the Russian Federation, has yet to be regulated. The Stated Duma, which is the lower house of the parliament, will likely review comprehensive legislation over the next few months. While Russia was highlighted earlier this year as a potential mining destination, sanctions imposed by Moscow's attack on Ukraine later hurt the business.
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By: Lubomir Tassev
Title: Working Group to Develop Efficiency Standard for Crypto Mining in Russia
Sourced From: news.bitcoin.com/working-group-to-develop-efficiency-standard-for-crypto-mining-in-russia/
Published Date: Mon, 19 Sep 2022 09:00:50 +0000