Amid Sanctions, Bitcoin Mining Machines Are ‘Flowing’ Into Russia, as Industry Thrives

None of the “sanctions targeting Russia completely prohibit involvement in the mining sector,” said David Carlisle, vice president of policy and regulation at Elliptic, a blockchain analytics firm. Still, there are “significant risks” for firms operating in Russia’s mining sector: they can’t do business with sanctioned entities including mining hosting firm BitRiver, or make payments to state banks and companies, Carlisle added.