Mining capacity in Russia exceeds 11 GW: a quarter operates legally

The total number of mining farms in Russia has exceeded 136 thousand units, with the total capacity of cryptocurrency mining equipment reaching an impressive 11 GW. This growth is primarily due to the attractive mining conditions in our country.

According to MTS EnergyTool, the number of mining farms increased by 7% in 2024. The highest concentration of equipment is observed in the Irkutsk region, with more than 10% of the total. Following it are Moscow and the Moscow region with indicators of 9% and 8% respectively. Bashkiria and the Samara region also made it to the top five, displacing the North Caucasus regions.

Legality in question

An interesting fact: according to experts, only a quarter of all mining capacities — about 3 GW — are used legally. The remaining 8 GW fall into the shadow sector, which causes serious concern among regulators.

CEO of OXLY Denis Makashov notes that the popularity of the Irkutsk region among miners is due to the presence of the powerful Angara Cascade HPP, which provides more than 12 GW of energy. Low electricity tariffs significantly reduce the costs of cryptocurrency mining.

New rules of the game

From January 1, 2025, significant restrictions came into force: mining is completely prohibited in ten regions of Russia. Moreover, cryptocurrency mining is restricted in some zones of Buryatia, the Irkutsk region, and the Transbaikal Territory during the autumn-winter period.

According to amendments to the law "On Digital Financial Assets," from November 1, 2024, all legal entities and individual entrepreneurs are required to register with the FTS as miners. Individuals do not require registration if their energy consumption does not exceed 6 thousand kWh per month.

What is mined in Russia?

90% of the capacities are used for Bitcoin mining. Such dominance is explained by the high liquidity of the first cryptocurrency and its relative stability compared to altcoins. The remaining capacities are distributed between Litecoin, Kaspa, Ethereum, and Monero.

Experts agree that 2025 could be a turning point for the mining industry in Russia. New legislation and regional bans are forcing investors to adopt a wait-and-see attitude. Many projects are suspended until the situation with the enforcement of the new legislation and possible additional restrictions is clarified.