The Bitcoin Mining Sector expands, with ASIC increased by 7 % in 2024: Report

By early 2025, the ability of Russian Bitcoin mining topped 11 GB, but only about 3 GB was used by legal miners.

Bitcoin (BTCThe mining sector in Russia It grew in 2024, when the number of mining farms increased by 7 % to 136600 ReportsQuoted data by MTS Energytool.

As of January 2025, the country’s total mining capacity in 11 GB. Moscow made up about 9 % of farms, while the surrounding Moscow area is 8 %. Irkutsk has remained the top of the upper mining, as it hosted more than 10 % of the specified encryption mining farms.

Despite growth, the report says that Russia’s legal encryption miners use only 3 GB of 11 GW available. While the Russian authorities are working to bring underground cryptocurrencies to the legal barn, energy consumption is still a major problem, as many still work outside the books.

Russia has witnessed an increase in mining activity due to the low electricity costs in certain areas. Irkutsk, in particular, attracts miners with their cheap hydroelectric power. However, organizers continue to perform illegal mining operations that strive for local networks.

In early August 2024, Russian President Vladimir Putin New laws took place Officially codifying bitcoin and mining digital assets. Under the new rules, citizens can extract bitcoin as long as they remain within the maximum electricity of the government, although the Bank of Russia still has the ability to block specific assets if they pose a danger to financial stability.

As Crypto.News I mentioned Earlier, the Russian Energy Network operator, Russia, lost more than 1.3 billion rubles in 2024 due to illegal encryption mining, as miners benefited from electricity through unauthorized contacts. The largest losses in the North Caucasus, where Russian Ambassador Cavekaz mentioned damage exceeding 600 million rubles. In Novosibirsk, the losses reached 400 million rubles, while the Russian and Privolzhye Center witnessed about 120 million rubles.