Russia’s BitRiver and RDIF Partner for BRICS-Wide Mining Initiative
Russia is pursuing expanding its global computing power and dominating the cryptocurrency mining sector. On October 18, 2024, at the BRICS Business Forum held in Moscow, Russia’s largest data center operator, BitRiver, and the Russian Direct Investment Fund (RDIF) unveiled a strategic partnership.
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The collaboration is set to launch mining and artificial intelligence (AI) computing facilities across BRICS nations.
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With BitRiver already operating 21 data centers across Russia and ten more under construction, the company has become a key player in energy-intensive computing.
BitRiver and RDIF’s joint venture aims to bridge this gap by building state-of-the-art data centers for cryptocurrency mining and AI workloads.
Russia Expanding BRICS Mining Infrastructure: What Does it Mean for Crypto?
The BRICS alliance—consisting of Brazil, Russia, India, China, and South Africa, with recent additions including Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE—represents over 40% of the world’s population and a quarter of the global economy.
The partnership between BitRiver and RDIF is a critical step toward developing sovereign computing infrastructure that can reduce reliance on Western technology providers.
BitRiver CEO Igor Runets said this initiative would drive economic growth, bolster Russia’s AI and digital economy, and create skilled jobs nationwide.
Runets explained:
Mining is not just the foundation for the digital economy. If Russia catches up with the United States in such a fundamental branch as mining, it means our country cannot be ignored.
Runets added that this effort would enhance liquidity in cross-border settlements with BRICS partners while laying the groundwork for future AI projects.
