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Cryptocurrencies and processing power in Russia: a new strategic territory in eastern Siberia?

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  • Hugo Estecahandy
  • Kevin Limonier

Abstract

This paper analyses the emerging Russian cryptocurrency mining industry, with a particular focus on eastern Siberia. This major strategic industry provides the region with a growing calculation power and fosters potential innovations – in encryption especially. In fact, the crypto-mining industry has noticeably coalesced in eastern Siberia because the region offers a series of geographic, climatic, economic and technical advantages – the magnitude of which is hard to match anywhere else in the world. This article focuses on the oblast of Irkutsk and shows how crypto-mining has come to encompass both economic and political powers and to involve a number of Russian actors and infrastructures. Ultimately, the local dynamics in eastern Siberia teach us a lot about the fate of the industry nationally.

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  • Hugo Estecahandy & Kevin Limonier, 2021. "Cryptocurrencies and processing power in Russia: a new strategic territory in eastern Siberia?," Journal of Cyber Policy, Taylor & Francis Journals, vol. 6(1), pages 68-80, January.
    • Handle: RePEc:taf:rcybxx:v:6:y:2021:i:1:p:68-80
    DOI: 10.1080/23738871.2021.1939746
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    Cited by:

    1. Ryan Wyeth & Ludovico Rella & Ed Atkins, 2024. "The material geographies of Bitfury in Georgia: Integrating cryptoasset firms into global financial networks," Environment and Planning A, , vol. 56(3), pages 816-832, May.

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