Russia Ranks Second Globally in Mining with up to $7 bln Annual Volume

According to Tatarstan’s digital development minister, Russia’s total crypto-mining output stands at around $6–7 bln per year. These figures place the nation in second place globally, trailing only one leading competitor. Low electricity costs in several key areas and increasing deployment of large-scale farms partly explain this surge.

Experts indicate that if current trends persist, the country could strengthen its position further, especially as miners exit more strictly regulated regions. However, intensified supervision and potential new tax measures may alter the industry’s trajectory. Meanwhile, certain local governments are launching legalization frameworks to tap into additional revenue streams.

Tatarstan, for instance, observes a 20–25% annual uptick in crypto-mining interest. Regional experts believe it provides opportunities to boost the local IT sector, introducing cutting-edge solutions under well-structured regulations.