Anna Baydakova

Senior reporter at CoinDesk and author of a report on Russia's Bitcoin mining industry; provided on-the-ground reporting about mining legalization, sanctions impact, and the grey market for ASICs in Russia.

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Nov 5, 2025 • 29min

BITCOIN SEASON 2: Inside Russia's Secret Bitcoin Mining Industry

Anna Baydakova, a Senior Reporter at CoinDesk, dives into the intricate dynamics of Russia's Bitcoin mining industry. She reveals how recent sanctions have catalyzed a shift towards Bitcoin as a means of economic survival. The discussion covers Putin's unexpected support for crypto mining and the expansion of Siberian mining hubs relying on unique energy sources. Anna also exposes the grey market for ASIC miners, detailing how unofficial imports dominate, all while highlighting how Russians are using Bitcoin to protest and preserve wealth amid political turmoil.

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