Russia partners with Bitriver and RDIF to advance AI leadership

Bitriver, a Russian data mining company, has teamed up with the Russian Direct Investment Fund (RDIF) to expand data center infrastructure and AI-focused projects across BRICS nations. 

The partnership aims to strengthen Russia’s presence in artificial intelligence (AI) and cryptocurrency mining by addressing the current shortage of energy-intensive data centers. 

During the BRICS conference in Moscow, Bitriver CEO Igor Runets emphasised the importance of this collaboration, stating, “Together with the Russian Direct Investment Fund, we will focus on creating an infrastructure base based on mining – building data centers and connecting them to the necessary capacities to make it possible to deploy and implement projects related to AI.” 

As part of the expansion plan, Bitriver aims to increase its number of data centers, with 10 new facilities expected to be added. 

RDIF, which co-invests in projects with global institutional investors and other sovereign funds, will focus on increasing the potential of these data centers. 

In line with Russia’s broader strategy, RDIF has also proposed a joint investment platform to encourage BRICS countries to invest in advanced technologies like AI. 

Bitriver offers solutions for cryptocurrency mining operations, utilising surplus hydroelectric power to run data centers.

These centers provide co-location services for cryptocurrency mining across Russia and the CIS region, aiming for efficient and sustainable operations.

Similarly, the Russian Direct Investment Fund (RDIF) focuses on direct investments in key Russian companies.

Created in 2011 under the guidance of Russia's President and Prime Minister, RDIF was established to work alongside global investors and act as a facilitator for direct investment in the country.