Russian Crypto Miners' Tax Contribution to Fall Short of Expectations

2026-03-17 09:54

The Russian Federal Tax Service has announced that cryptocurrency mining companies are expected to pay approximately 567 million rubles ($7 million) in taxes in 2025, significantly lower than the previously anticipated 6 billion rubles. Officials attribute the reduced tax revenue to rising electricity costs, declining Bitcoin prices, the depreciation of the dollar, and a substantial number of mining operations remaining unregistered. Currently, about two-thirds of Russian mining companies have yet to complete their registration.

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