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Russian Crypto Miner, Sovereign Fund Aim for Global AI Leadership
Bitriver, a Russian data mining company, has partnered with the Russian Direct Investment Fund (RDIF) to expand data center infrastructure and AI projects across BRICS countries. The goal is to boost Russia’s presence in AI and cryptocurrency mining. Both entities plan to build data centers and focus on enhancing their potential. This partnership aims to address the shortage of energy-intensive data centers and support Russia’s broader goal of becoming a global leader in AI.
Strengthening Russia’s AI Position
Bitriver, the Russian data mining giant, has partnered with the Russian Direct Investment Fund (RDIF) to launch data centers across BRICS member countries. The two entities also plan to launch artificial intelligence (AI)-themed projects and expand Russia’s share of the global computing power market.
Bitriver and the Russian sovereign fund made the announcement at the recent BRICS conference in Moscow. Igor Runets, Bitriver CEO, said the collaboration aims to build infrastructure that supports the broader goal of boosting Russia’s presence in AI and cryptocurrency mining.
“Together with the Russian Direct Investment Fund, we will focus on creating an infrastructure base based on mining – building data centers and connecting them to the necessary capacities to make it possible to deploy and implement projects related to AI,” Runets stated.
Boosting BRICS Alliance’s AI Credentials
According to a report, Bitriver is Russia’s largest data center operator, specializing in cryptocurrency mining and artificial intelligence (AI). It reportedly operates data centers in Russia and plans to add 10 more. RDIF, on the other hand, co-invests in projects involving industry leaders, global institutional investors, and other sovereign funds.
The two entities aim to increase the supply of energy-intensive data centers, which are currently in short supply. Kirill Dmitriev, CEO of the Russian sovereign fund, said that under the partnership, Bitriver and RDIF will focus on enhancing the potential of data centers. He added that developing computing power for AI implementation is also a priority for Russia and its BRICS partners.
RDIF is said to have initially proposed a joint investment platform that would enable BRICS member countries to invest in high technologies, including AI. The Russian sovereign fund is also keen on making the BRICS alliance a global leader in the AI field, the report added.
