TechFlow reported on October 31, according to Cointelegraph, Nico Smid, founder of Digital Mining Solutions, recently stated that Russia's strategic move to establish Bitcoin mining and AI computing facilities within BRICS nations is triggering a global "game theory" effect. This initiative is not only expected to drive BRICS countries to utilize idle energy for Bitcoin mining but may also prompt other countries to follow suit.
Data shows that global Bitcoin network hashrate is currently concentrated primarily in the United States. Industry experts believe Russia’s plan could promote decentralization of hashrate and create opportunities for older mining equipment to continue generating value in regions with low energy costs. Countries within the BRICS bloc—including Argentina, Ethiopia, and the UAE—have already begun leveraging state-owned resources for Bitcoin mining, a trend that may further expand.
Previously, Russia announced it would lift its ban on Bitcoin mining starting November 1, requiring miners to register with the Federal Tax Service and submit details including machine models and wallet addresses. However, due to ruble depreciation and rising electricity costs, Russia is no longer a country abundant in low-cost hydropower, which could affect the development of its mining industry.
