Private investors buying electric power stations in Russia to mine cryptocurrency

Two electric power stations in Russia have been sold for the purpose of cryptocurrency mining, the Kommersant newspaper reported, citing sources. It is the first such deal in the country.

The two power stations are in Perm Region, on the western slopes of the Middle Ural Mountains, and in the neighboring Republic of Udmurtia. The facilities will be used to create a data center and a center for cryptocurrency mining, the newspaper reported. The stations were reportedly sold for about 160 million rubles (about US$3 million).