Russia has become a titan of cryptocurrency mining
According to a recent publication by local media RBC, during the summer of 2025, Russia managed to achieve 16.6% of the global hash rate (the total computing power) put into the Bitcoin network by miners to find and validate transaction blocks, which currently yield a block reward of 3.125 BTC approximately every 10 minutes. The hash rate of Russian crypto-miners was thus over 150 EH/s (exahash per second) during this period.
This makes it the second most important nation on the planet in terms of Bitcoin mining, behind the United States. The rapid growth of this sector, and cryptocurrencies in general, is seen by Maxim Oreshkin, the economic advisor to President Vladimir Putin, as a source of high-value revenue, but not accounted for in the country's trade balance of economic exchanges.
