Bitcoin mining sector expands as ASIC count surged 7% in 2024: report

At the beginning of 2025, Russia’s bitcoin extraction capacity exceeded 11 GW, but only about 3 GW would have been used by legal minors.

Bitcoin (BTC) mining in Russia increased in 2024 while the number of mining farms increased by 7% to 136,600, the Russian newspaper Kommersant reportsCiting data from MTS Energytool.

In January 2025, the country’s total mining capacity crossed 11 GW. Moscow represented around 9% of the farms, while the surrounding region of Moscow was 8%. Irkoutsk remained the highest mining hotspot, hosting more than 10% of the cryptographic mining farms identified, according to data.

Despite growth, legal crypto minors in Russia only use 3 GW out of the 11 GW available, the report said. While the Russian authorities have worked to bring underground cryptographic minors into the legal fold, energy consumption is apparently a major problem, many always operating books.

Russia has increased mining activity due to low electricity costs in certain regions. Irkutsk, in particular, attracts minors with its cheap hydroelectric power. However, regulators continue to suppress illegal mining operations that weigh local grids.

In early August 2024, Russian President Vladimir Putin signed new laws Officially legalize bitcoin and extraction of digital assets. Under the new rules, citizens can exploit Bitcoin as long as they remain in the government’s electric ceiling, although the Russian bank always has the power to prohibit specific assets if they have a risk for financial stability .

Like crypto.News reported Earlier, the Russian operator of the Rosseti electrical network lost more than 1.3 billion rubles in 2024 due to the exploitation of illegal cryptography, minors lining the electricity with unauthorized connections. The biggest losses have reached the North Caucasus, where Rosseti Severny Kavkaz said damages greater than 600 million rubles. In Novosibirsk, losses reached 400 million rubles, while the Rosseti and Privolzhye center saw around 120 million rubles drained.