RATE Group | Russian Aluminum Plant Set to House Cryptocurrency Mining Farm
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Russian Aluminum Plant Set to House Cryptocurrency Mining Farm

01 Nov Russian Aluminum Plant Set to House Cryptocurrency Mining Farm

Posted at 01:25h in Cryptocurrency News by

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International economic sanctions have propelled many countries toward cryptocurrencies — from Venezuela to Iran. Now, U.S. sanctions imposed on one Russian company have paved the way for a cryptocurrency mining operation to take over a decidedly industrial facility.

Rusal Turns to Cryptocurrency Mining in Face of Sanctions

One such establishment is Rusal, an aluminum giant owned by Oleg Deripaska, an aide to Russian President Vladimir Putin. In April 2018, Deripaska was named by the U.S. Office of Foreign Assets Control (OFAC) as a “Designated Russian oligarch,” thanks to his close ties to the Kremlin. Rusal was immediately hit with significant economic sanctions following this designation.

According to an October 29, 2019, report from…

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