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Crypto mining has turned into a new export category that affects Russia’s currency market. Maksim Oreshkin, deputy head of the presidential administration, said this during the VTB forum. He explained that underestimated crypto flows make ruble forecasts less accurate. This trend shows how digital assets reshape financial dynamics.
Oreshkin added that cryptocurrencies can be used for import payments. This creates a form of hidden export that impacts currency supply. He also mentioned that many operations occur outside traditional channels. However, the Bank of Russia evaluates the sector. These figures, he noted, must be included in the national balance.
<h2 class="wp-block-heading" id="russia-strengthens-its-position-in-the-global-mining-industry">Russia Strengthens Its Position in the Global Mining Industry</h2>
Crypto mining became legal in Russia in November 2024. This step allowed companies to use mined assets for cross-border transactions. The change supported further industry growth.
Russia now holds the second position in global bitcoin mining. In mid-2025, the hashrate of Russian miners reached 150 EH/s, or 16.6% of global capacity. Analysts estimate that miners produced around 36,000 BTC in 2024. The value equals nearly $3.15 billion, confirming the sector’s economic impact.
Thus, crypto mining forms a new export flow that shapes the ruble’s dynamics and supports Russia’s digital asset economy.
Read also: <a href="https://ultramining.com/news/en/vtb-predicts-higher-power-demand-from-data-centers-by-2030/" rel="noopener noreferrer nofollow">VTB Predicts Higher Power Demand from Data Centers by 2030</a>

Oreshkin Calls Crypto Mining Russia’s Hidden Export Sector

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