Crypto currency company begins mining in Arctic circle

The show Time

Cryptomining is essentially a process of auditing bitcoin transactions and making sure the digital currency isn’t used twice by the same user. The reward for regulating spending of the emerging currency is new crypto currency.

This process can be very profitable because of the growing value of crypto currency,

and BitCluster has gone to the Polar Circle to maximise its profits.

The Siberian city of Norilsk is now home to the Artic’s first bitcoin farm. The city is home to 180,000 people, is heavily polluted and as many would have guessed, extremely cold. The city has a 9-month long winter, but it appears to be the ideal location to set up a crypto farm.

The temperature in the city, which can be as low -40°C, was a large part of the decision to begin operations in the location. The cold minimises the cost of cooling the machines that are used for mining. The cost of the electricity powering the machines is also significantly cheaper in the city than the rest of Russia

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