Russian President Vladimir Putin’s top economic adviser, Maxim Oreshkin, stated on December 4 that cryptocurrency mining should be reflected in the country’s balance-of-payments statistics. The remark signals a significant policy shift as Moscow looks to position digital asset production as a formal component of Russia’s national economy.
NEW: $BTC | ?? 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 16% of the global Bitcoin hashrate, 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 55,000 BTC in 2023. Due to the latest Bitcoin halving, output is projected to decline to about 35,000 BTC in 2024, though the economic impact remains substantial.
A co-founder of Russian mining firm 51ASIC estimates that daily mining revenue in the country totals around USD $12.9 million, 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 a corporate tax rate of up to 25% for mining businesses.
A senior executive at a blockchain consulting firm noted that investment in Russia’s domestic mining infrastructure could surpass USD $1.3 billion, 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.
