A senior Kremlin adviser has called for Russia’s fast-growing Bitcoin mining industry to be classified as an official national export. The proposal reflects concerns that large volumes of mined cryptocurrency worth tens of thousands of Bitcoins are influencing Russia’s economy without appearing in formal trade data.
Bitcoin Mining Flowing Abroad, Says Kremlin Aide
Maxim Oreshkin, a top economic adviser to the Kremlin, argued that mined digital assets effectively “flow abroad” even though they do not physically cross borders. Because these mined coins impact Russia’s balance of payments and foreign-exchange market, he believes they should be recorded the same way as traditional export items.
Russia legalized industrial crypto mining on November 1, 2024, and Oreshkin now considers the sector a “new export item” that the state undervalues in its official statistics.
He emphasized that Bitcoin can be used to pay for imports through non-traditional channels, another reason he believes the industry should be included in national trade calculations.
Production Volumes Now Too Large to Ignore
Industry specialists say Russia’s mining output has grown to economically meaningful levels:
- ≈55,000 BTC mined in 2023
- ≈35,000 BTC mined in 2024, reduced due to Bitcoin’s halving
- ≈1 billion rubles in national mining income each day
Oleg Ogienko of Via Numeri Group noted that Russia’s total production for 2025 could again reach “tens of thousands” of Bitcoins. Mikhail Brezhnev of 51ASIC linked Russia’s daily mining revenue to its expanding share of global computing power and the ongoing strength of Bitcoin’s price.
According to Brezhnev, since mined Bitcoin is often used to directly settle import payments, capturing these flows in official statistics makes economic sense.
Legal Framework Exists But Illegal Mining Still Rampant
Russia has established a formal regulatory structure for mining:
- Companies and sole proprietors must register with the Federal Tax Service
- Corporate miners pay 25% tax
- Individuals pay 13–22%, non-residents 30%
- Household miners avoid registration only if power use stays below 6,000 kWh/month
- Hosting providers must join a national registry
Despite this, a significant portion of the industry remains underground.
A recent investigation by Russian media found that illegal and semi-legal mining operations are costing the state millions of dollars each year through stolen electricity and unpaid taxes. According to Ren TV, many small miners avoid registering to escape high electricity tariffs and taxation.
Some operators allegedly manipulate electricity meters or bribe utility employees—practices that drive up costs for legitimate businesses and households.
Large Miners Comply, Smaller Players Evade
Major industrial miners such as BitRiver and Intelion operate within the legal system, but many small independent miners reportedly continue running unregistered operations. Regulators say this undermines energy infrastructure, distorts consumption patterns, and results in billions of rubles in annual budget losses.
A Push for Economic Recognition
If adopted, Oreshkin’s proposal would mark a significant shift in how Russia measures and reports the Bitcoin mining sector. It would also reflect broader global debates over how crypto activity should be integrated into national accounts.
For Russia, recognizing mining as an export could reshape policy planning, fiscal reporting, and trade analysis—especially as the industry continues to grow in scale and international relevance.
