062 What Bitcoin Mining in Russia Actually Looks Like Today w/ Alen Makhmetov

In this episode of HashrateUp, Jesse sits down with Alen Makhmetov, Co-Founder of Hashlabs, to unpack what Bitcoin mining in Russia actually looks like beyond headlines and speculation.

Alen shares firsthand experience operating mining infrastructure across Kazakhstan, Russia, and Northern Europe. He explains how mining regulation evolves in practice: rising power prices, changing tax regimes, import duties, curtailment, FX risk, and why governments rarely ban mining outright — instead, they make it gradually unprofitable.

In the second half, the conversation goes deep into Bitcoin mining heat reuse. Using real-world projects in Finland, Alen breaks down how miners integrate with district heating systems, why sites must be sized to summer baseload demand, and why 80°C heat output is the critical threshold for making heat reuse economically viable at scale.

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