Irkutsk

Siberian utility filed 137 lawsuits over crypto miners using cheap power

January 28, 2022

Irkutskenergosbyt, the main utility company in Irkutsk, Siberia, is looking to collect almost $800,000 from owners of crypto farms that have allegedly caused a spike in local electricity consumption. In total, the company has filed 137 lawsuits against customers who set up mining facilities in basements and garages. The company says these home miners are engaged in entrepreneurial …

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This techie from a small Siberian town co-owns a $6 billion German HR tech startup

October 26, 2021

The impressive list of Russian entrepreneurs involved in multi billion dollar tech companies — from Pavel Durov (VK, Telegram), to Andrew Filev (Wrike), to Nikolay Storonsky (Revolut), to Ratmir Timashev (Veeam Software), and many more — is not coming to an end. 31-year-old Arseniy Vershinin,  who was born in Ulan Ude, a small town in Siberia, is also one of them. A …

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Now a top global crypto mining location, Russia considers introducing higher energy tariffs

October 19, 2021

Russia has become one of the world’s top three locations for bitcoin mining activity, following China’s crackdown on crypto earlier this year.  In August 2021, according to the Cambridge Bitcoin Electricity Consumption Index,  bitcoin miners in Russia accounted for 13.6% of the total global BTC mining hash rate distribution, bested by only the United States (26.2%) and Kazakhstan (21.9%). Energy consumption has grown …

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Cryptocurrency mining with Siberian babushkas

January 22, 2019

A residential block of red bricks stretches unambitiously under the freezing sky of Irkutsk, Siberia. Inside, a series of small bitcoin mining machines are running on cheap electricity, as grandmother Valeriya’s family of domestic miners, a bullish bunch, stack up a potential fortune for the future. The granny, only identified as Valeriya, has never looked …

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Russian 3D printer builds houses in 24 hours, attracts $6 million for international expansion

September 26, 2017

Last week Rusnano Sistema Sicar, a Russian private equity fund, announced that it will invest $6 million in Apis Cor, a startup originated from Siberia which has designed a 3D printing technology for the construction industry. The Apis Cor 3D printer is a mobile robot is a mobile robot capable of constructing buildings using fine-grained fibre concrete with special additives. It can build …

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Irkutsk State University sets up Tech Transfer Center

November 21, 2013

Irkutsk State University (ISU) in Siberia has established its own Tech Transfer Center, the ISU press service announced earlier this month. The Center has been created as a spin-off limited liability company and is expected to offer a classic range of consulting services, including search for partners and customers and assistance for innovators in completing …

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Innovation to gain momentum in Irkustk region

March 2, 2017

Irkutsk regional Vice President Viktor Nechayev made a series of announcement last week at the Baikal Economic Forum regarding the forthcoming development of innovative industries – including IT – in the region. Among the projects under consideration is a local venture fund with the participation of state-owned fund of funds the Russian Venture Company. Other …

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