BitRiver Bolsters North American Presence: Appoints HASHR8’s Compass as Exclusive Representative
Investors in North America can now get domestic access to BitRiver’s colocation services and turnkey solutions for low-carbon cryptocurrency mining in Russia
MOSCOW, DECEMBER 29, 2020 - BitRiver, the largest provider of colocation services for cryptocurrency mining in Russia and CIS countries, is strengthening its foothold in North America by appointing Compass, the world's premier bitcoin mining marketplace, as its exclusive representative across North America. Compass is backed by the prominent bitcoin mining and media company HASHR8.
The Siberian region of Russia, where BitRiver’s professionally managed datacenters are located, reportedly generates about 5 GW of surplus from renewable hydropower. This allows BitRiver to offer its hosting clients some of the lowest electricity rates in the world while guaranteeing them an uptime of 99.9%, among the highest in the industry. To further reduce downtime, the datacenters are equipped with on-site repair facilities operated by technicians who are certified by the world’s leading miner manufacturers. This new partnership allows investors in North America to access BitRiver’s enterprise-grade, low-cost and low-carbon cryptocurrency mining facilities in Russia by signing a contract with US-based Compass. Thereon, rest of the client onboarding process and the after-sale support will also be provided by Compass.
"BitRiver has long been a trusted name in the bitcoin mining industry, we are pleased to call them our exclusive hosting partner in Russia," said Whit Gibbs, CEO and Founder of HASHR8. "BitRiver's responsiveness, service, and support are among the best in the world. We are excited to help more Compass users host their ASICs in BitRiver's world-class facilities.”
Russia’s major crypto-related bill, called “On Digital Financial Assets,” or DFA, was signed into law in July. Although the bill itself does not mention cryptocurrency mining in any form, a proposed amendment to the bill by Russia’s Ministry of Finance seeks to lay out some regulations for cryptocurrency mining. Even if this proposed amendment takes effect, mining operations can continue providing colocation services to overseas clients.
“We at BitRiver strongly believe that cryptocurrency mining should be done sustainably. In line with this belief, we use only surplus and renewable energy for our operations. Investors in North America who would like to either host their mining machines with us or access one of our turnkey solutions can now do so directly through the Compass marketplace,” said Mr. Igor Runets, CEO and Founder of BitRiver.
Low-carbon cryptocurrency mining is seeing increasing interest among institutional investors in North America. Recently, the North American payment giant Square announced support for greener Bitcoin mining as part of a zero-carbon pledge. Other North American companies are finding creative ways to reduce the environmental impact of Bitcoin mining. BitRiver’s use of only surplus and renewable energy provides investors an alternative that is not only low-carbon and low-cost, but is also already operating at an industrial scale.
About BitRiver: Founded by Igor Runets in 2017 and headquartered in Moscow, BitRiver LLC provides hosting services and turnkey solutions for large-scale cryptocurrency mining operations to institutional investors around the world. BitRiver employs nearly 100 full-time staff in three offices across Russia and full-time sales’ representatives in China, Japan, UAE and USA. With a vision of powering the most promising tech of today and tomorrow through low cost and sustainable energy, BitRiver currently utilizes only surplus hydroelectric power to operate the largest data center that offers co-location services for bitcoin mining in Russia and the CIS region.
About Compass: Compass is the world's premier bitcoin mining marketplace. Compass allows bitcoin miners to easily source their ASICs and find hosting space at the best facilities in the world. Compass was launched to give everyone the ability to mine bitcoin and is the smart choice for those looking to start or scale their mining operation.
About HASHR8: HASHR8 is a modern mining company focused on democratizing bitcoin mining while providing actionable insights through research and media. Founded in 2019, HASHR8 gained credibility through their trustworthy content and candid interviews with the leading professionals in the industry, leading Forbes to name them one of the Top 10 Cryptocurrency Podcasts of 2020.
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