That's quite a lot of money, looks like many bitcoin crimes are emerging which has greatly affected the prices of the btc in general. this is about the fourth time am reading about btc crimes. Since most of these things ain't kept over by a public eye it's quite easy for such theft to occur.
Otherwise.
North Atlantic. Energy costs are low with plenty of renewable energy available. The cold weather assists in keeping GPUs cool which further can reduce the cost of mining.
This is such a suitable place for mining then, it tries to solve all the major draw backs of mining bitcoin using machines.