Russian aluminum plant driven to cryptocurrency mining by US sanctions

The squeeze of US sanctions have proven too much for a Russian aluminum refinery, so it’s pivoting away from metals to mine cryptocurrency.

The Moscow Times reports that the Nadvoitsy Aluminum Plant, owned by Russian metal firm Rusal, ceased production last year after US sanctions led to the loss of its American customer base.

A representative for Rusal confirmed to Russian news outlet RBC that the premises have been leased to cryptocurrency mining firm, the Russian Mining Company (RMC).

Once setup, it appears the mining farm will rent out its computing power to those interested in mining cryptocurrency but who don’t want to buy the hardware outright.

According to RBC, the aluminum plant is unprofitable, the electricity being supplied to it is not being used, and locals are out of work.

RMC says it will turn the plant into a specialized data center and sell its computing power as a service. While cryptocurrency…