BRICS-wide Mining Initiative Summary On October 18, 2024, at the BRICS Business Forum in Moscow, Russia's BitRiver and the Russian Direct Investment Fund (RDIF) announced a partnership to develop a BRICS-wide mining initiative. This collaboration aims to establish cutting-edge mining and AI computing facilities across BRICS nations, significantly impacting the cryptocurrency mining industry. Objectives of the Partnership Expansion of Infrastructure: The initiative seeks to build state-of-the-art data centers dedicated to cryptocurrency mining and AI workloads, thereby enhancing the computing capacity within BRICS nations. Sovereign Computing Infrastructure: It aims to create a system less dependent on Western technology, promoting technological independence for BRICS members. The partnership aligns with Russia's new mining regulation laws implemented in August 2024, which provide a framework for large-scale industrial mining, facilitating a formal and regulated mining environment Show Less