Cryptocurrency exchange Huobi is to open a Russian office on
Monday November 12, and will offer customers “mining hotel”
services – although a recent report claims Russian mining fever
may well be on the wane.
The concept of mining hotels involves a system whereby
cryptocurrency miners can have their rigs housed and monitored,
paying only rent and electricity costs.
However, Russia’s Newsroom24 claims that people in the country
may be losing their appetite for mining. The media outlet states
that stores in Nizhny Novgorod, a city that has become a hub of
crypto-mining activity in recent months, are now fully stocked
with mining hardware that was once flying off the shelves at
breathtaking speeds.
The media outlet also states that mining farm facilities are
disappearing from the market, while at the height of the mining
boom, farms were changing hands for prices of over USD 100,000.
Newsroom24 states that the market has been dampened by the
Central Bank’s anti-cryptocurrency rhetoric, as well as falling
cryptocurrency prices.
Huobi Russia is also planning an ambitious accelerator program for
blockchain startups, as well as an educational course created in
conjunction with the prestigious Moscow-based Plekhanov Russian
University of Economics .
Per Forklog, Senior Director of Huobi Global Edward Chen joined
the head of Huobi Russia, Andrey Grachev, at a blockchain event in
St Petersburg this week to confirm the news.
Forklog quotes Huobi Russia as stating, “Participants will learn
about digital asset management and the automated and Huobi’s
algorithmic trading services. Russians will be able to learn more
about about blockchain technology and about cryptocurrencies in
particular.”
Huobi is pursuing a seemingly relentless policy of global expansion,
and is now said to be targeting Africa and the Middle East, after
recently setting up shop in notably crypto-keen nations such as
South Korea . The company is now Singapore-based, but prior to the
Chinese crypto crackdown of September 2017, it operated the
biggest-trading exchange in the world in Beijing.
And Huobi has been looking to get more involved in the Russian
fintech scene in the past few months, launching a Russian-language
website last month. In September, it announced it was teaming up
with state-owned bank Vnesheconombank’s VEB Innovation Fund ,
where it also vowed to share its cryptocurrency-related expertise.
Monday November 12, and will offer customers “mining hotel”
services – although a recent report claims Russian mining fever
may well be on the wane.
The concept of mining hotels involves a system whereby
cryptocurrency miners can have their rigs housed and monitored,
paying only rent and electricity costs.
However, Russia’s Newsroom24 claims that people in the country
may be losing their appetite for mining. The media outlet states
that stores in Nizhny Novgorod, a city that has become a hub of
crypto-mining activity in recent months, are now fully stocked
with mining hardware that was once flying off the shelves at
breathtaking speeds.
The media outlet also states that mining farm facilities are
disappearing from the market, while at the height of the mining
boom, farms were changing hands for prices of over USD 100,000.
Newsroom24 states that the market has been dampened by the
Central Bank’s anti-cryptocurrency rhetoric, as well as falling
cryptocurrency prices.
Huobi Russia is also planning an ambitious accelerator program for
blockchain startups, as well as an educational course created in
conjunction with the prestigious Moscow-based Plekhanov Russian
University of Economics .
Per Forklog, Senior Director of Huobi Global Edward Chen joined
the head of Huobi Russia, Andrey Grachev, at a blockchain event in
St Petersburg this week to confirm the news.
Forklog quotes Huobi Russia as stating, “Participants will learn
about digital asset management and the automated and Huobi’s
algorithmic trading services. Russians will be able to learn more
about about blockchain technology and about cryptocurrencies in
particular.”
Huobi is pursuing a seemingly relentless policy of global expansion,
and is now said to be targeting Africa and the Middle East, after
recently setting up shop in notably crypto-keen nations such as
South Korea . The company is now Singapore-based, but prior to the
Chinese crypto crackdown of September 2017, it operated the
biggest-trading exchange in the world in Beijing.
And Huobi has been looking to get more involved in the Russian
fintech scene in the past few months, launching a Russian-language
website last month. In September, it announced it was teaming up
with state-owned bank Vnesheconombank’s VEB Innovation Fund ,
where it also vowed to share its cryptocurrency-related expertise.
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