Published On: Wed, Aug 9th, 2017

Russia Squares Off with China in Battle for Bitcoin Mining Supremacy

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An aide to Russian President Putin seeks to raise $100 million through an ICO of his company in a bid to help dethrone China as the country with the biggest Bitcoin mining industry. Putin has warmed up to blockchain technology, Ethereum in particular, and has extended support for its adoption through the help of local partners. Many believe that these developments indicate Russia’s predisposition to replace USD with Bitcoin as a reserve asset.
Russian Miner Coin
One of Putin’s aides on all matters pertaining to technological security co-owns a company seeking to raise $100 million worth of Bitcoin and Ethereum by holding an initial coin offering for its token, Russian Miner Coin. On its website, RMC claims that their investors will own rights to 18% of its total revenue earned using the company’s mining equipment. Russian official Dmitry Marinichev said, “Russia has the potential to reach up to 30 percent share in global cryptocurrency mining in the future.”

Russia Launches $100 Million Bitcoin-Mining Operation https://t.co/1RNtDumxyK pic.twitter.com/FE7aHX27HW
— Russia Insider (@RussiaInsider) August 9, 2017

BTFO China?
RMC has adopted a two pronged strategy to accomplishing their goal of usurping China’s …

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