Putin: Russia is a World Leader in Mining; Revenues Could Reach 50 Billion Rubles Annually

Russian President Vladimir Putin stated that Russia is one of the world’s leaders in cryptocurrency mining. According to him, the business operating in this sector could bring about $50 billion rubles annually to the treasury after 2025.

Experts estimate that over 1,000 mining farms operate in Russia, with a combined capacity exceeding 2 GW. The energy consumption of miners in the country is comparable to that of major industrial sectors.

Putin emphasized the importance of legislative regulation of mining and taxation to ensure transparency and attract additional revenues to the budget. Currently, the Ministry of Finance and other agencies are developing relevant draft laws.