Russian Energy Ministry Pushes for Crypto Mining Expansion

Russian Energy Ministry Pushes for Increased Crypto Mining

The Russian Ministry of Energy pushes to legalize industrial crypto mining. They want miners classified as energy consumers and taxed. Deputy head Pavel Snikkars stresses this need. Crypto mining has boomed in Russia, making it the world's second-largest Bitcoin miner. The Ministry of Finance predicts that mining taxes could provide the government with over $200 million per year. The government is quickly working to regulate the mining sector. Their aim is to reduce dependence on the dollar while recognizing the economic potential of mining.