According to BlockBeats, on October 21, the Russian government and the country’s largest cryptocurrency mining company, BitRiver, announced plans to build mining data centers in BRICS countries. According to RBC, the agreement involves the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund. RDIF and BitRiver said they will jointly “build data centers in BRICS countries.”

The announcement was made at the BRICS Business Forum in Moscow on October 18. The two sides also said they would work on projects in “artificial intelligence technologies” and strive to “increase Russia’s share of the global computing power market.”

The parties did not disclose whether an agreement was reached with any BRICS country, but they said that globally "there is a shortage of space for energy-intensive data centers." Therefore, Russia and Russian companies will seek to create "new opportunities" based on their "experience" and will focus on expanding the potential of data centers and the possibility of further expanding technology in BRICS markets.