As Russia is being hit by the ICO (initial coin offering) fever, a company co-owned by Dmitry Marinichev, the presidential Internet commissioner, plans to raise as much as $100 million in cryptocurrencies.
Russian Miner Coin (RMC) aims to help Russian entrepreneurs challenge China in Bitcoin mining, reports Bloomberg. The tokens issued will have rights to 18% of the revenue earned with the company’s mining equipment, according to the ICO documentation.
Thus everyone will receive “a chance to become the owner of the next-generation miner,” RMC promises.
According to the company, Russia’s consumer electricity prices (80 kopeks or 1.3 cents per kilowatt hour) are lower than in China. The company intends to locate mining computers based on Bitfury chips in individual Russian households, leveraging Russia’s lower power prices.
