ChainCatcher news, according to Cointelegraph, Digital Mining Solutions founder Nico Smid stated that Russia plans to build Bitcoin mining and artificial intelligence computing facilities in BRICS countries, with other countries potentially following suit by utilizing underused energy to mine Bitcoin.The Russian sovereign wealth fund is collaborating with Russian data center operator BitRiver to establish Bitcoin mining and artificial intelligence computing facilities for BRICS countries. This project could facilitate BRICS countries settling global trade in Bitcoin—an alternative to a basket of local currencies and gold as a currency support scheme.Russia will lift the ban on Bitcoin mining on November 1, but not without restrictions. It requires all Bitcoin miners to register with the Federal Tax Service of Russia and submit a list of machine models and wallet addresses.

ChainCatcher news, according to Bloomberg Terminal information, as the BRICS summit opens in Kazan, Russia, cryptocurrency issues have been brought to the agenda. Russian lawmakers are promoting the idea that Russian miners can sell their tokens to international buyers, while domestic buyers can use BitCity and other cryptocurrency markets to pay for imported goods, effectively bypassing Western sanctions. Richard Wolf, an American economist and emeritus professor at the University of Massachusetts Amherst, commented on this situation, stating that the BRICS alliance is surpassing the already peaked United States. The U.S. is in decline and is trying to maintain its international dominance.

ChainCatcher news, the Russian government and the country's crypto miner BitRiver announced plans to build mining data centers in BRICS countries. The plan involves the Russian Direct Investment Fund (RDIF), and the two parties released the relevant news on October 18 at the BRICS Business Forum in Moscow.BitRiver CEO Igor Runets stated that the plan will focus on building infrastructure based on crypto mining to enhance global computing power to support the development of artificial intelligence projects.Currently, BitRiver has 21 data centers in Russia and is constructing 10 new centers. Although the specific details of the deal with BRICS have not been disclosed, both parties believe there is a shortage of space for energy-intensive data centers globally. RDIF CEO Kirill Dmitriev emphasized that developing AI computing capabilities is a priority for Russia and its BRICS partners.

ChainCatcher news, Russian Deputy Foreign Minister Sergey Ryabkov stated that it is still too early to discuss a unified currency due to the differences in financial regulation among BRICS member countries.Instead, the focus remains on strengthening financial sovereignty and exploring trade in local currencies. Ryabkov emphasized that BRICS countries are working to enhance their economic independence, and authorities are actively committed to establishing interconnected financial markets.

ChainCatcher news, Russian President Vladimir Putin announced plans to collaborate with BRICS countries to establish an independent payment system. Putin emphasized that this initiative aims to ensure the efficient and independent processing of foreign trade transactions. This move reflects a strategic shift in Russia's broader economic transformation aimed at enhancing the autonomy of Russia and BRICS countries in global trade.

ChainCatcher news, according to the Russian news agency TASS, Kremlin aide Yury Ushakov stated in an interview that the BRICS countries (China, Brazil, Russia, India, and South Africa) are committed to creating an independent payment system based on digital currency and blockchain.He stated: "We believe that creating an independent BRICS payment system is an important goal for the future, and this system will be based on advanced tools such as digital technology and blockchain. The most important thing is to ensure that it is convenient for governments, ordinary people, and businesses, and that it is cost-effective and free from political interference."