According to claims made from Russian Media Kommersant, the country is discussing joint management of Zaporizhzhia (the largest nuclear facility in Europe) with the United States, with the purpose of using it for Bitcoin mining.
President Vladimir Putin allegedly announced the collaboration at a pre-New Year meeting of the State Council on Christmas.
According to Russian media, Putin said the discussions are taking place with American officials rather than with Kyiv. He said U.S. representatives showed interest in using electricity from Zaporizhzhia for crypto mining operations.
He also reportedly said electricity supplies to Ukraine are being discussed at the American initiative. When asked whether Ukrainian specialists could work at the plant, Putin said they were already working there but now hold Russian passports, placing them under Russia’s jurisdiction.
The Industrial Mining Association had said in a report from September that Russia ranked second globally for crypto mining during the summer, accounting for more than 16% of global hashrate.
Putin confirms talks with the US over plant control and mining – Russian Media
Putin’s State Council meeting reportedly focused on personnel training, but Putin apparently openly spoke about Zaporizhzhia, though the talks exclude Ukraine from decision-making and place Russia and Washington at the center of operational planning for the nuclear site.
Crypto mining already plays a role in Russia’s financial system. Central Bank Governor Elvira Nabiullina said mining could be an additional factor behind ruble strengthening.
Speaking at a press conference on Wednesday, she said it is hard to measure the effect because a large part of the sector operates in a gray zone.
Earlier last week, Maxim Oreshkin, Deputy Chief of Staff of the Presidential Executive Office, had said forum that 2026’s ruble price forecasts were off because financial flows linked to crypto and mining were underestimated.
Maxim said this sector has turned into a new export channel and now influences foreign exchange markets. Oreshkin said the Bank of Russia is assessing these flows so they can be included in the balance of payments, noting that many of these transactions bypass standard reporting routes.
Mining is now regulated in Russia, thanks to a notice by the country’s central bank on November 1st 2024, which said that retail entrepreneurs and companies registered with the Federal Tax Service can legally mine crypto in Russia.
Private individuals can mine without registration if they stay within a 6,000 kilowatt-hour energy limit and report income, while companies that run mining infrastructure, including data centers and hosting services, must register with the tax authority.
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