Russian Aluminum Plant Pivots to Bitcoin Mining Following US Sanctions

From coindesk.com

A Russian aluminum plant is pivoting to bitcoin mining after U.S. sanctions forced the plant to shut down in 2018. Russian aluminum giant Rusal is leasing its Nadvoitsy Aluminum Plant, located in the northwest region of Karelia, to a crypto startup called the Russian Mining Corporation (RMC), according to Russian news site RBC. The U.S. Office of Foreign Assets Control (OFAC) hit Rusal with sanctions in April 2018. At the time, the U.S. Treasury Department dubbed Rusal majority shareowner Oleg Deripaska a “Designated Russian Oligarch,” thereby sanctioning the firm. RMC is renting out a small part of the plant and ... (full story)