According to Wu, about 54,000 bitcoins were mined in Russia in 2023, worth more than $3 billion, generating about 50 billion rubles in tax revenue for the Russian government.
Bezdelov, president of the Russian Industrial Mining Association, believes that the recent legalization of crypto mining will stimulate investor interest and further increase tax revenue.
Earlier, Russian President Vladimir Putin signed a bill that officially legalized cryptocurrency mining. Only registered Russian legal entities and individual operators are allowed to mine, but individuals who do not exceed the energy consumption limits set by the government can mine without registration.
