Russia’s Bold Move: Bitcoin Mining Poised to Become Official Export Industry
Moscow is drafting a radical new economic playbook—one that could see Bitcoin mining stamped with an official export label.
The Kremlin's Crypto Calculus
This isn't just about recognizing an industry; it's a strategic pivot. By formalizing mining as an export sector, Russia aims to harness its vast energy resources and cold climates—natural competitive advantages—to generate a new stream of hard currency revenue. The move seeks to legitimize and tax an already-thriving underground economy, bringing it into the fiscal fold.
Energy, Geopolitics, and Digital Gold
The logic is cold and calculating. Sanctions have squeezed traditional export channels, making a decentralized, borderless asset like Bitcoin increasingly attractive. Tapping into surplus energy, particularly in remote regions, transforms a cost into a profitable commodity. It's a classic case of geopolitical pressure birthing financial innovation—or, depending on your view, desperation dressed up as policy.
A Global Signal from the East
Russia's push sends a tremor through the global financial system. It represents a major nation-state not just tolerating crypto, but actively structuring its economy around it. This could pressure other resource-rich nations to follow suit, potentially reshaping global energy and capital flows. Forget ETFs—this is nation-level adoption.
The bottom line? While Wall Street debates basis points, entire countries are moving to monetize their megawatts directly on the blockchain. Sometimes, the most bullish case for an asset isn't a fund manager's tweet, but a government's treasury directive.
Russia's former Minister of Economic Development and Kremlin's economic advisor Maxim Oreshkin has called for digital assets to be part of Russia's official balance of payments data.
He also dubbed $BTC mining an "undervalued export sector". pic.twitter.com/3TSyakvCKb
— crypto.news (@cryptodotnews) December 4, 2025
Russia Now the World’s No. 2 Bitcoin Mining Hub
Oreshkin emphasized that while assets like Bitcoin (BTC) do not physically cross borders, they function economically like export products. He noted that Russia has effectively “acquired a new, undervalued export category in the form of cryptocurrency mining.”
Industry data shows Russia now accounts for approximately, making it the world’s second-largest mining powerhouse after the United States.
According to Sergei Bezdelov, chairman of the Russian Industrial Mining Association, domestic bitcoin production reached roughly. Due to the latest Bitcoin halving, output is projected to decline to about, though the economic impact remains substantial.
A co-founder of Russian mining firm 51ASIC estimates that, underscoring the sector’s growing macroeconomic significance.
Mining Gains Importance Under Sanctions
Oreshkin argued that cryptocurrencies now function as a FORM of money supply, especially as Russian companies increasingly use digital assets to pay for imports amid international sanctions. As traditional payment channels face restrictions, the use of Bitcoin and other altcoins for cross-border transactions has expanded.
In 2024, Moscow formally legalized industrial-scale crypto mining and introduced a regulatory framework that includes afor mining businesses.
A senior executive at a blockchain consulting firm noted that investment in Russia’s domestic mining infrastructure could surpass, driven by both private and state-aligned interests.
Oreshkin’s comments reflect the Kremlin’s strategic push to integrate digital asset production into national economic planning and reinforce Russia’s ambition to cement its position as a global mining leader.
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