According to Odaily Planet Daily, Russian President Vladimir Putin said at the Eastern Economic Forum that Russia has become one of the world leaders in Bitcoin mining. Putin explained that excess energy in regions such as Siberia can be used for mining, but warned that these activities should not hinder the development of the region.

According to a report by Sergey Bezdlov, chairman of the Industrial Mining Association, Russia produced 54,000 bitcoins in 2023, generating more than $550 million in tax revenue for the country. Bezdlov estimated that the influx of new investors due to the recently approved law on cryptocurrency mining will increase this figure.