Russia Launches $100 Million Bitcoin-Mining Operation

Russia Launches $100 Million Bitcoin-Mining Operation:

In what some have called a “watershed” moment for bitcoin, Bloomberg reports that a company co-owned by an aide to Russian President Vladimir Putin is seeking to expand Russia’s bitcoin-mining industry, leveraging Russia’s cheap energy to rival China as the world’s largest mining market.

The company, known as Russian Miner Coin, or RMC, is seeking to raise $100 million in an initial coin offering, promising buyers a right to 18% of the company’s mining revenue, according to a presentation cited by Bloomberg.

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