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Top 15 Locations for Bitcoin Mining Around the World

Close up image of a piece of Bitcoin in a Bitcoin mining rig
By Augustine Mbam - May 13, 2024 - 5 Mins Read

Siberia, Russia


Photo of industrial factory in Siberia during the winter
Industrial area in Siberia, Russia | Shutterstock


Siberia, Russia, is an essential global Bitcoin mining location, now ranking as the world’s third-largest Bitcoin mining nation.

Following China's crackdown on mining activities, Russia absorbed a considerable share of migrating miners, using its naturally cold climate to provide cost-effective conditions for crypto-mining operations.

Despite some reservations from the central bank and proposals for higher electricity tariffs, Russia's future in Bitcoin production appears promising.

In Siberia, the mining sector benefits from favorable, cost-effective conditions due to the region's chilly temperatures, which naturally aid in cooling mining equipment. Moreover, the Russian government is looking for new legislation to attract more Bitcoin miners, aiming to capitalize on this industry's economic potential and tax revenue.

Despite these developments, there are ongoing discussions around potential regulations and energy tariffs that may impact the mining industry in Siberia.

Several notable mining companies like Waves Enterprise, Zenfuse, Revain, and Atlanth have set up in the area to capitalize on its advantageous conditions.