Russian Bitcoin Miners: Industrial Players ‘Mined BTC 54,000 in 2023’
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
A Russian Bitcoin (BTC) mining industry leader says that industrial players in the country mined BTC 54,000 (worth around $3 billion) last year.
The comments came from Sergey Bezdelov, the head of the Industrial Mining Association, the newspaper Izvestia reported.
Bezdelov was speaking at a crypto mining-related session at the Eastern Economic Forum in Vladivostok.
The industry group leader added that “according to our estimates,” the industrial crypto mining sector is set to land the Russian Treasury an “annual increase in tax revenue” worth some 50 billion rubles ($559 million).”
Bitcoin flirted with a one-month low amid a wider retreat from riskier investments in global markets due to economic fears https://t.co/mGIxcF0Xyr
Bezdelov said that he expected fresh cash injections as big businesses back industrial miners.
And he hinted that this would allow Russian Bitcoin miners to build more data centers and buy new equipment.
“New investors are coming. New infrastructural investment is coming.”
And the industry chief added that this would all translate to higher wages. He said that the cash boost would help improve “structure” in the sector.
And he said it would provide better “labor power,” as well as “new IT-related job opportunities.”
As of September 2, Russian crypto mining players must start registering their operations with a central regulatory body.
They will also be eligible to pay tax on their earnings for the first time at the end of the current financial year.
However, Moscow has yet to decide exactly how miners will be
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