The authorities of the Kemerovo region of Russia calculated how much cryptocurrency mining can bring using local coal. The costs of creating mining farms near CHP at coal sections can pay off in about four years, said the first deputy governor, chairman of the regional government Andrei Panov.

According to the head of the Kuzbass government, the provision of local mining companies with an electricity with a capacity of up to 25 MWh and the initial capital investments in technological equipment, estimated at 4.6 billion rubles, allow you to achieve the cost of resources for miners within 3 rubles per kWh.

“It is possible to provide such effectiveness when burning only 50,000 tons of coal per year,” the official said in an interview with TASS.

Panov said that the profit from mining digital currencies in the region can reach about 1 billion rubles annually. Thanks to this, the estimated payback of crypto projects and a complete refund of investments in the creation of technological infrastructure will be possible for four to five years, the official believes.

Earlier, the Governor of the Kemerovo region Ilya Meredyuk announced the readiness of the regional authorities to consider the economic feasibility of building power plants and crypto farms in the territories of coal mining enterprises.