Working Group to Create Russian Crypto Mining Efficiency Standard: A working group of professionals in the cryptocurrency sector has been established to develop a standard for lucrative and energy-efficient cryptocurrency mining in Russia.
The regulations will enable data center operators and developers provide investors with higher hardware uptime.
Russia plans to increase the productivity of its mining facilities by 2023.
An effort has been made by a group of crypto experts to develop a standard that should enhance the overall effectiveness of mining, notably the usage of energy to create digital currency.
The rules and processes will be created to extend the amount of time the expensive data processing equipment runs at its most productive capacity, which should lead to greater profitability.
Working Group to Create Russian Crypto Mining Efficiency Standard:
A working group of professionals in the cryptocurrency sector has been established to develop a standard for lucrative and energy-efficient cryptocurrency mining in Russia.
The regulations will enable data center operators and developers to provide investors with higher hardware uptime.
Russia plans to increase the productivity of its mining facilities by 2023.
An effort has been made by a group of crypto experts to develop a standard that should enhance the overall effectiveness of mining, notably the usage of energy to create a digital currency.
The rules and processes will be created to extend the amount of time the expensive data processing equipment runs at its most productive capacity, which should lead to greater profitability.
The forum’s main goal was to discuss the evolution of the digital world and digital financial assets in general.
Participants talked about the introduction of central bank digital currencies, the growth of tokenization, the impending legalization of mining in Russia, as well as other blockchain and cryptocurrency-related activities.
Security and education problems were also front of mind throughout the meeting.
New Standard Intended to Reduce Crypto Mining Farm Downtime
Yuri Kudryashov is certain that a scientific approach, including computer modeling of temperatures and speeds, can assist to raise the caliber of technical solutions for mining modules.
According to the official, it should also enable optimal ventilation system calibration, taking into consideration variables like humidity, season, area, and the specific place where a crypto-mining unit is located.
The efficiency standard that the working group is tasked with developing, according to
Vera Burtseva, strategic marketing director at Vekus Group, will decrease shutdowns of mining hardware and downtime due to extreme weather conditions, as well as maintenance costs while increasing the operating time and service life of the equipment.
The new norm will be implemented into Russia’s building industry’s national “Green Zoom” framework of sustainable growth.
The same has previously been done in the building of homes, the travel sector, and the construction of conventional data processing centers.
The mining of cryptocurrencies, a growing sector in the Russian Federation’s energy-rich areas, is not yet subject to state regulation.
In the upcoming months, lawmakers in the Stated Duma, the lower house of parliament, are anticipated to evaluate comprehensive legislation.
President Vladimir Putin emphasized the benefits of mining in Russia earlier this year, but sanctions imposed as a result of Moscow’s decision to strike Ukraine subsequently harmed the industry.
