Research shows: EU carbon taxes force Bitcoin miners to move to Russia
A study suggests that the EU's carbon pricing policies may be pushing Bitcoin mining operations to relocate, operationally, to Russia. The research analyzed daily emissions data and Bitcoin prices from 2019 to 2025, finding a statistical link between higher EU carbon prices and increased emissions in Russia. This correlation implies miners are shifting activity to Russia during low-demand hours to capitalize on the lack of a carbon tax there, maximizing profits. No similar link was found between the EU and the rest of the world. The study notes this is likely an operational shift—companies with equipment in both regions powering down in the EU and up in Russia—rather than physical relocation of hardware. Limitations include the impact of China's 2021 mining ban and other unaccounted factors. Furthermore, Russia's own regional bans on crypto mining, expanded to Moscow in 2025, could complicate this operational migration in the future.
cryptonews.ru9h ago
