Russia becomes the world’s 2nd largest Bitcoin mining hub: rapid hashrate growth

Research agencies confirm that Russia has taken second place in terms of allocated power on the Bitcoin network, surpassing Kazakhstan and Canada. Earlier this year, Russia’s share in the global hashrate stood around 10%, rising to 14% now, while the U.S. maintains the top spot at about 25%.

Experts cite cooler climates, lower energy costs, and tax incentives in various regions. Investors increasingly consider hosting their farms in the Urals and Siberia, where electricity surpluses exist, significantly cutting operating expenses.

Major data centers integrating new ASIC capabilities have played a pivotal role. Some forecasts suggest that next year Russia may reach 15–16% if the regulatory climate remains supportive and electricity tariffs stay relatively stable.