Russia X10 reports a rise in registered encryption mining companies star-news.press/wp
author
Tim Alper
author
Tim Alper
Involve
One of the senior legislators in Moscow says that the number of Russian encryption companies has participated in the registry of the Federal Tax Department has increased ten times in the past six months.
Russian media RBC I stated that the deputies claim that more than 1,000 companies are now “legally” mining currencies.
This has led to one political leader to claim that Crypto is the “future” for many Russian companies.
The rise in Russian encryption mining companies
The head of the new People’s Party, the legislator, Alexei Nietzschev, told those present at a plenary session in Douma on July 23:
“When encryption mining was emerging (in Russia), there were many who wanted to ban it. But it is now clear that the future belongs to Cryptoassets. Mining will continue to develop.”
He also emphasized that the number of “white” miners in Russia has increased 10 times since the beginning of the year.
A new Russian law, presented last year, stipulates that all encryption mines who use more than 6000 kWh an hour of electricity per month must subscribe to the record.
The list exceeds the ban, the deputy claims
FTS requires companies in their list to provide them with data on the number of coins they enjoy and the portfolios they keep.
The tax authority will also start asking companies in the list to pay taxes on their profits. This can bring in the revenue of the Russian treasury more than $ 500 million a year, as the heads of industry claimed.
Nietzheev praised his lawmakers to adopt the mining law in the fall of 2024. He said that the deputies had acted wisely by choosing an organization, not outside the mining. The legislator explained:
“Paying people to shadows with fines and ban is not an effective strategy.”
Nechayev added that before the start of the new law, miners were forced to work in a semi -legal gray manner.
He pointed out that some miners tried to be transparent about their activities, but they were unable to pay taxes because most of their work was not officially recognized.
Nechayev said this had previously left “entire cities and provinces” without electricity because miners are the plus power networks.
Miners: Investing in artificial intelligence
Before the law, only 91 companies were managed with encryption mining operations. Nietzheev said this number has now rose to more than 1000.
The head of the new people added that industrial miners also invest in artificial intelligence. He claimed that this year alone, coding miners spent 5 billion rubles (63 million dollars) on developing artificial intelligence.
Nechaev now claimed that miners were more likely to invest their money in Russia, rather than sending them abroad.
Moreover, he concluded that many mining power outages have stopped.
No. 2 Bitcoin in the world?
The Society for Industrial Mines, the largest industrial group in the Domastic Mining Sector, claims that Russia is constantly ranked second in the world in terms of Bitcoin (BTC).
The association says that the outputs are only the second for those in the United States of America. The body indicated that mining continues to develop.
This summer, Russian encryption mining companies say their fragility exceeded 150 EH/S (Exhash per second), which represents 16.6 % of global retail.
Local experts believe that up to 40,000 BTC (about $ 4.7 billion) was extracted in Russia during 2024.
Earlier this month, one of the senior Russian policy makers urged the state to start seizing encryption workers from illegal encryption mines.
He said that moving to officially reshaping the coins as a form of intolerable property would help the courts seize the assets of illegal miners.
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2025-07-24 23:30:00
