Russia Bitcoin mining business is booming, with a large influx of miners

Bitcoin mining in Russia is booming as the U.S. market saturates and mining rig makers like Bitmain and MicroBT are expanding into Russia. Industry professionals say that more cryptominers flow into Russia than anywhere else in the world. Russia has been gaining an edge in crypto mining due to the availability of cheap energy and a cold climate. With China banning the industry in 2021, Russia's share of the world's mining industry has increased, making it the world's second or third largest miner, according to one of Russia's largest miners.