Bitriver, the leading Russian data mining company, has formed a strategic partnership with the Russian Direct Investment Fund (RDIF) to expand data center infrastructure and AI projects in BRICS countries. The objective is to strengthen Russia’s position in the fields of AI and cryptocurrency mining. Both organizations have plans to construct data centers and focus on maximizing their capabilities. This collaboration aims to address the scarcity of energy-intensive data centers and support Russia’s broader ambition of becoming a global frontrunner in AI.
Enhancing Russia’s AI Dominance
Bitriver, the Russian data mining behemoth, has joined forces with the Russian Direct Investment Fund (RDIF) to establish data centers in BRICS member nations. The two entities also intend to introduce projects centered around artificial intelligence (AI) and elevate Russia’s share in the global computing power market.
Bitriver and the Russian sovereign fund unveiled this partnership at the recent BRICS conference in Moscow. Igor Runets, CEO of Bitriver, expressed that the collaboration seeks to build infrastructure that facilitates the broader objective of amplifying Russia’s presence in AI and cryptocurrency mining.
“By working together with the Russian Direct Investment Fund, our focus will be on creating an infrastructure foundation based on mining – constructing data centers and connecting them to the necessary resources to enable the implementation of AI-related projects,” stated Runets.
Empowering the AI Credentials of the BRICS Alliance
According to reports, Bitriver is the largest data center operator in Russia, with expertise in cryptocurrency mining and artificial intelligence (AI). It currently 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 availability of energy-intensive data centers, which are currently in short supply. Kirill Dmitriev, CEO of the Russian sovereign fund, stated that Bitriver and RDIF will concentrate on maximizing the potential of data centers through this partnership. He added that developing computing power for AI implementation is also a priority for Russia and its BRICS counterparts.
It is reported that RDIF initially proposed a joint investment platform that would enable BRICS member countries to invest in advanced technologies, including AI. The Russian sovereign fund is also determined to establish the BRICS alliance as a global leader in the field of AI.
