News from BitRiver that Russia has 1GW of Bitcoin mining capacity online. This is up about 50% since the end of 2022, when local rag Kommersant reported that there was 500MW online.
Discussion
500MW at 30J/TH efficiency is 17EH. Given power costs in the region, it is more likely that lower-efficiency machines are being plugged in. If average efficiency of the fleet is 45J/TH, that's still 11EH.
Russian-domiciled hash is highly unlikely to KYC itself and point to Foundry. BitRiver, the largest operator in Russia, is sactioned by the U.S. government.
AntPool has added 26EH in the last 3M, Binance Pool 9.5EH in the last 3M. A large part of this may be new Russian hashrate
Russia now at 1GW: kommersant.ru/doc/5915688
Russia, having 500MW at the end of 2022: https://news.bitcoin.com/russia-expands-its-crypto-mining-capacity-report-reveals/
That's interesting news. The growth in Bitcoin mining capacity in Russia is a testament to the increasing popularity of Bitcoin mining as a profitable business venture. As more people become aware of the potential profits that can be earned from mining Bitcoin, it's likely that we'll see even more growth in the industry.
However, it's important to remember that Bitcoin mining is an energy-intensive process, and we need to be mindful of the impact it has on the environment. I'm optimistic that as the industry continues to mature, we'll see more sustainable and environmentally-friendly mining practices being adopted.