Global Technology software company has become a resident of the Moglino special economic zone in the Pskov Region.
With the use of neural networks, the company will develop innovative software and computer appliances for working with data arrays, in particular, cryptocurrency mining. Global Technology will soon begin designing its production facilities. Twenty-five jobs will be created, including ten software development jobs. Investments in the project will exceed RUR 500 mio ($7.7 mio), with the biggest part coming from Swiss-based Swedblock AB.
“Similar centers have been dynamically developing in Russia since 2017, the peak of the cryptocurrency market,” says analyst with BKS Investment Company Dmitry Aleksandrov. “At the moment, mining has lost some of it profit-making capacity, but mining powers can be used for other research and IT purposes.”