Russia to lift ban on Bitcoin mining tomorrow, move could encourage other countries to mine Bitcoin

Odaily Planet Daily Report: Hashlabs Mining founder Alen Makhmetov said that Russia will lift the Bitcoin mining ban on November 1, but with restrictions. It requires all Bitcoin miners to register with the Federal Tax Service of the Russian Federation and submit a list of machine models and wallet addresses. Digital Mining Solutions founder Nico Smid said Russia plans to build Bitcoin mining and artificial intelligence computing facilities in the BRICS countries, and other countries may follow suit, using underutilized energy to mine Bitcoin. In mid-October, during the BRICS Business Forum in Moscow, the Russian Sovereign Wealth Fund collaborated with the Russian data center operator BitRiver to build Bitcoin mining and artificial intelligence computing facilities for the BRICS countries. This project may lead to the BRICS countries settling global trade in Bitcoin - an alternative to the basket of local currencies and gold-backed currency plan. Three of the BRICS countries - Argentina, Ethiopia and the United Arab Emirates - are already using state resources to mine Bitcoin. Alen Makhmetov said Russia's Bitcoin mining and artificial intelligence plans may be part of a broader attempt to gain geopolitical advantage. "Russia sees an opportunity to expand its influence due to the limited IT infrastructure in these regions."