Russian government subsidizes crypto mining facility in Siberia

According to local media, the state-owned Corporation for the Development of the Far East announced the launch of the crypto mining center in Buryatia — a republic in east Siberia and part of the Russian Federation.

The facility will possess 30,000 mining machines, hire 100 workers and consume 100 megawatts from the power grid. The mining center will enjoy a broad set of incentives, from zero land and property taxes to a lowered income tax rate. The electricity prices will be cut by half for the mining operator.