Here’s How Much Bitcoin (BTC) Was Mined in Russia in 2023
According to Sergey Bezdelov, director of the Industrial Mining Association, approximately 54,000 Bitcoin (BTC) tokens worth about $3 billion were mined in Russia in 2023.
Speaking at the Eastern Economic Forum 2024, Bezdelov estimated that this mining activity could generate around 50 billion rubles in tax revenue for the Russian government.
He expects the recent legalization of cryptocurrency mining in the country to attract more investors and further increase tax revenue.
On August 8, Russian President Vladimir Putin signed a law officially legalizing crypto mining. This means that this operation is now recognised as a legitimate economic activity, allowing legal entities to engage in it provided they register or comply with certain restrictions on energy consumption.
READ MORE:
Another Country is Thinking of Adding Bitcoin as a ReserveThe new law is also expected to encourage infrastructure investment and contribute to Russia’s broader economic growth.
In addition, local reports indicate plans to establish at least two crypto exchanges in Moscow and St. Petersburg. These exchanges would facilitate international trade and align with Russia’s broader strategy to strengthen economic ties with the BRICS countries.
Source
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
38% Dogecoin Rebound, Cardano Tests AI Limits, But Unstaked’s AI Advantage Steals the Show
Dogecoin (DOGE) jumps 38%, and Cardano (ADA) launches an AI testnet, but Unstaked’s advanced AI agents go beyond marketing, offering real impact and value.Dogecoin (DOGE) Future: Aiming for $3.94 with MomentumCardano (ADA) Blockchain Tests AI ScalabilityUnstaked: AI That Goes Beyond MarketingFinal Take: Real AI Utility vs. Hype
ETH Trades at Historic Lows vs BTC Since 2019
ETH hits lowest value compared to BTC since 2019, raising questions on a potential rebound amid mixed fundamentals.ETH Undervalued Against BTC: A Historical SetupBullish History, Bearish FundamentalsPatience Required for Ethereum Bulls
Popcat Climbs, Dogecoin Stalls, But BTFD Triples Tokens with 200% Bonus—Best Meme Coin Presale to Buy Now Before May 26 DeadlineConclusion: Don’t Mis
BTFD Coin surges in Stage 15 with 90% APY staking and 200% bonus. Best meme coin presale to buy now before it launches on May 27!BTFD Coin (BTFD) – The Bulls Are Charging, Are You In?Dogecoin (DOGE) – The OG Meme King Facing Shaky GroundPopcat (POPCAT) – The Smart Money Magnet of the Moment
SHIBA’s Hype Fades, ADA Devs Work; Meanwhile, Web3 ai Becomes Highest Trending Crypto With $500K Frenzy
Explore Shiba Inu (SHIBA) recovery trends, Cardano (ADA) prediction backed by developer growth, and how Web3 ai’s Portfolio Optimizer replaces guesswork with smart strategy. Learn why Web3 ai is gaining traction among the highest trending crypto tools.Web3 ai’s Portfolio Optimizer Turns Guesswork Into GainsShiba Inu (SHIBA) Recovery Sparks Renewed Interest After Key Price ReboundCardano (ADA) Prediction: Development Surge Fuels Bullish OutlookStrategy Over Speculation
Trending news
MoreCrypto prices
More
