In 2019, a small Russian town called Irkutsk gained international attention due to an unusual and ambitious experiment in Bitcoin mining. Irkutsk is located in Siberia and is known for its extremely cold winters. However, the town's cold climate and abundant hydropower resources made it an attractive location for cryptocurrency miners.

A group of entrepreneurs in Irkutsk decided to convert an old Soviet-era power plant into a large-scale Bitcoin mining facility. The facility was powered by the hydroelectric plant, which provided a cheap and reliable source of electricity. The cold Siberian climate also played a crucial role in cooling the mining equipment, reducing the need for additional cooling systems.

This Bitcoin mining project in Irkutsk garnered attention because it was an example of how remote and economically challenged areas could find new economic opportunities through cryptocurrency mining. However, it also raised concerns about the environmental impact of cryptocurrency mining due to the extensive electricity consumption.