Chechnya will create a Eurasian crypto mining pool, the press secretary of the head of the Chechen Republic has reportedly confirmed. The project aims to combine the resources of crypto miners from the Eurasian Economic Union countries.

Alvi Karimov, the press secretary for the head of Chechnya, confirmed to RBC news outlet on Sept. 21 that a Eurasian crypto mining pool will be established in the Chechen Republic.

“The head of Chechnya, Ramzan Kadyrov, and Yuri Pripachkin agreed to establish a Eurasian mining pool in Chechnya,” a representative of the Russian Association of Crypto Industry and Blockchain (Racib) told the publication. Pripachkin is the president of Racib.

Noting that “The project should unite the resources of the miners from the countries of the Eurasian Economic Union (EAEU): Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan,” the publication detailed:
"The pool will be the first step in the implementation of the 'Crypto Chechnya' program, which is aimed at developing the regions economy with the use of blockchain technologies."