Opinion: Russian crypto miners are increasing deployment of mining equipment to meet US and European demand

Igor Runets, founder of Russian cryptocurrency exchange BitRiver, said the company is actively building power capacity to meet growing demand from U.S. and European investors.

According to the executive, BitRiver’s data centers have already used up their spare capacity and have fully reserved all electricity for the next 18 months.

During this period, the company expects to jointly deploy mining equipment with a total mining power estimated at 1 kWh. The growing demand comes mainly from the United States and Europe, as investors shift some operations from China, Africa and Latin America in search of lower energy prices. But the main reason for the increase in demand is the rising prices of cryptocurrencies, which have hit new highs.