Russia Considers Crypto Mining as Export in Official Trade Accounts

Oleg Ogienko, CEO of Via Numeri Group, estimated Russia’s proof-of-work mining output in 2025 could reach “tens of thousands” of BTC.
Sergey Bezdelov, head of the Industrial Mining Association, reported production of roughly 55,000 BTC in 2023 and around 35,000 BTC in 2024, noting that the network’s halving reduced miner rewards.
Mikhail Brezhnev, co-founder of mining supplier 51ASIC, estimated daily mining revenue at approximately 1 billion rubles, linked to Russia’s share of global computing power and Bitcoin prices.

Brezhnev emphasized that mined coins can be used directly to pay for imports, making a case for their inclusion in official trade statistics.

Regulatory Oversight

Since Russia legalized cryptocurrency mining on November 1, 2024, authorities have introduced registration and tax measures:

Legal entities and sole proprietors must register with the Federal Tax Service; hosting providers are listed in a separate registry.
Household miners consuming under 6,000 kWh monthly are exempt from registration but must report income.
Taxation: corporate miners pay 25%, individuals face 13–22% progressive rates, and non-residents are taxed at 30%.

Challenges from Illegal Mining

Despite legalization, illegal and semi-legal mining remains widespread, reportedly costing Russia millions in stolen electricity and unpaid taxes.

Investigations by Ren TV indicate many small operators avoid registration to escape high tariffs and taxes, creating billion-ruble losses for the state budget.
Major operators like BitRiver and Intelion comply with regulations, while independent miners allegedly manipulate meters or bribe utility workers.
Households and compliant businesses bear the cost of stolen electricity, highlighting a persistent enforcement challenge.

Overall, Russia’s move to classify crypto mining as a new export reflects both the sector’s growing economic significance and the state’s efforts to integrate digital assets into formal trade accounting, while addressing compliance and tax issues across the industry.