Oleg Deripaska can earn $17.7 mln on miners

Oleg Deripaska can earn $17.7 mln on miners

Cryptocurrency miners will yield 1billion RUB for Oleg Deripaska

The En+ group, which controls the assets of Russian oligarch Oleg Deripaska, is planning to receive one billion rubles on cryptocurrency miners this year, wrote Russian Business Daily Vedomosti. This group specializes in energy, non-ferrous metallurgy, and mining.

Maxim Sokov, CEO at the En + group, told Vedomosti, the total annual need of electricity for miners in 2018 may reach 100 megawatt-hours. So, the company will offer miners to build cryptocurrency farms nearby its power plants in Irkutsk, Bratsk and Ust-Ilimsk. Furthermore, the En+ is assembling a pool of international investors for building of mining farms.

However, the company doesn’t tell about electricity tariff for miners.

“These 100 megawatt-hours can bring to En+ a profit of $10-15 million”, suggests Natalia Porokhova, the head of the research and forecasting group ACRA.

“Even coming from 2017 tariffs, the company can gain profit about 980 million rubles,” estimates Vladimir Sklyar, the analyst of VTB Capital.



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