In between worlds: the state of bitcoin mining in Russia

Nov 04, 2025
By Colin Harper

Since the outbreak of the Russia-Ukraine War in February 2022, Russia, Europe’s ice-hardened half-brother to the East, has been completely walled off from the West. The war and its knock-on effects have made Russia an agent of change, perhaps unwittingly at times, to the post-war global order. And they’ve even impacted Russia’s fledgling Bitcoin mining industry.

Russia is now one of the most consequential players on the map for Bitcoin mining, but language barriers and industry secrecy have made it difficult to source reliable information on the country’s bitcoin mining sector.

Blockspace commissioned the following report, which you can download by completing the form below, by veteran Bitcoin and political reporter Anna Baydakova to provide a guidepost for the current state of Russia’s mining industry, including key players, relevant regulations, energy landscape, international business pipelines, and more. With bitcoin mining out of the spotlight in the U.S. as AI/HPC takes center stage, it’s critical that companies to be aware of mining opportunities outside of the U.S.

Header image courtesy of Artem Beliaikin via Unsplash.

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