Crypto industry experts have formed a working group to develop energy-efficient and profitable cryptocurrency mining standards in Russia. The rules will aim to help developers and data center operators deliver more hardware uptime to investors.
Russia is set to improve the efficiency of its mining facilities by 2023.
A group of crypto specialists have come together to explain the level of improvement in overall mining efficiency and in particular the energy usage for generating digital currencies. The regulations and procedures are designed to increase the uptime of expensive data processing equipment at optimal load, resulting in greater profitability.
The standard is expected to be adopted in February of next year, Russian Cryptoeconomics, Artificial Intelligence and Blockchain (Racib), members of the cryptocurrency sector and other related industries, Russian crypto news outlet. Bits.media reported this week.
The decision to establish the working group was announced at the crypto conference in Moscow during a presentation on the topic by representatives of Rasib, mining information center operator Vekus Mining Development and director of the Research Institute of Sustainable Development of Construction in Russia, Yuri Kudryashov. .
The main objective of the forum was to discuss the development of the digital ecosystem and digital financial assets in general. Participants discussed the legality of mining in Russia and other activities related to blockchain and cryptocurrencies, the introduction of central bank digital currencies and token distribution. The conference also focused on education and security issues.
A new level expected to reduce downtime on Crypto Mining Farms
A scientific approach, with computer modeling of temperature and speed, should help improve the quality of engineering solutions for mining modules, Yuri Kudryashov is sure. The official explained that it should also allow proper adjustment of ventilation systems, taking into account factors such as humidity, season, region and the location where the crypto mining unit is installed.
According to Vera Burseva, director of strategic marketing at Vecus Group, the level of efficiency that the working group has been given will reduce mining hardware shutdowns and downtime due to bad weather, and reduce maintenance costs by increasing equipment uptime and service life.
The new standard will be included in the ‘Green Zoom’ national system for sustainable development in the Russian construction sector. The same has been done in the construction of residential houses, the tourism industry and the construction of traditional data processing centers.
Cryptocurrency mining, which is expanding in energy-rich regions of the Russian Federation, is not yet regulated at the federal level. Legislators in the State Duma, the lower house is expected to review the comprehensive law in the coming months. Earlier this year, Russia’s mining interests were highlighted by President Vladimir Putin, but sanctions imposed following Moscow’s decision to attack Ukraine later hurt the business.
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