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NEWS THIRD LARGEST RUSSIAN OIL COMPANY GAZPROMNEFT PARTNERS WITH BITRIVER TO MINE BITCOIN

By SHAWN AMICK

The third largest oil producer in Russia, Gazpromneft, is partnering with Swiss-based bitcoin mining firm BitRiver to build out mining operations located at oil fields according to a memorandum from the St. Petersburg International Economic Forum.

BitRiver will assist Gazpromneft in developing datacenters where the oil producer will receive energy from the remote mining company at either new oil fields where infrastructure is not currently established, or remote sites with expensive transportation costs.

“Over the next two years, BitRiver intends to implement projects to create its own data centers for power-intensive computing with power scaling up to 2 [gigawatts], including [petroleum gas], which will additionally provide high and stable power consumption,” Igor Runets, founder and CEO of BitRiver, reportedly stated in the memorandum…

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