Russia mined about 54,000 BTC last year, worth over 3 billion dollars

ChainCatcher news, according to Cryptoslate, Sergey Bezdelov, the director of the Russian Industrial Mining Association, revealed that Russia mined approximately 54,000 BTC last year, worth over $3 billion. These mining activities generated around 50 billion rubles (approximately $556 million) in tax revenue for the Russian government.

Bezdelov believes that the recent legalization of cryptocurrency mining will increase investor interest and further boost tax revenue. In July of this year, the Russian State Duma passed a bill legalizing Bitcoin mining and allowing the use of cryptocurrency in international trade. This move establishes cryptocurrency mining as a legitimate economic activity, requiring legal entities to register or comply with specific energy consumption limits.