On September 10, Russian President Vladimir Putin said in a speech at the Eastern Economic Forum that Russia has become one of the world leaders in Bitcoin mining. This is because Bitcoin mining can utilize excess energy in regions such as Siberia. But he also warned that these activities should not hinder the development of the region.
According to a previous report by Sergey Bezdlov, chairman of the Industrial Mining Association, Russia produced 54,000 bitcoins in 2023, bringing the country more than $550 million in tax revenue.
On August 8, Putin signed a law legalizing cryptocurrency mining in Russia
