Bitcoin mining's future is green, and Russia has the best chance

Published on by Cointele | Published on

If the plan is properly implemented, it could help China to finally shed its biggest-polluter status and significantly improve the global ecosystem, which could also drastically shake up the country's eminent Bitcoin mining industry.

As the world has finally learned the hard truths of climate change and human-caused emissions of carbon dioxide, having constant access to renewable energy is going to become one of the most important factors in Bitcoin mining.

Let's take a look at the Bitcoin Mining Map that indicates a close estimate of the geographic distribution of the global BTC hash rate.

The Commonwealth of Independent States, os the CIS region, which includes both Russia and Kazakhstan, seems to be particularly overlooked by international players, mostly due to a lack of information about local mining scenes.

Most of Bitcoin mining in Russia takes place in the famous Siberian region, which has also been a key spot for aluminum production since the 1960s.

Russia's vicinity to China is also a big plus, as the best mining hardware is produced there.

Now, imagine shipping thousands of mining rigs to the state of Texas from Beijing, considering that the U.S. is in a trade war with China and has slapped a hefty 25% tariff on imported mining equipment.

Russia has been the third-largest Bitcoin mining country in the world for quite a while now, and the local industry has developed significantly.

Igor Runets is the founder and CEO of BitRiver, the largest colocation services provider for Bitcoin mining in Russia and the CIS region.

After completing his MBA from Stanford, Igor returned to Russia to utilize his more than 10 years of experience in enterprise-class data centers and the excess hydroelectric power of Siberia to bring institutional-grade Bitcoin mining to investors around the world.