Industrial mining urged to gently integrate into the national economy of Russia

In Russia, business interest in the development of industrial mining continues to grow, and the industry needs to be gently integrated into the national economy of the country. This opinion was expressed by Vladimir Gamza, Chairman of the Council of the Chamber of Commerce and Industry of the Russian Federation on Financial, Industrial and Investment Policy, at a meeting at the Chamber of Commerce and Industry on May 13.

The event was attended by over 60 people, including representatives of industry businesses and chambers of commerce and industry of the Republic of Bashkortostan, Eastern Siberia, Yuzhno-Uralsk, Saratov Region and Yamalo-Nenets Autonomous Okrug. The moderator was Sergey Bezdelov, First Deputy Chairman of the Council, Director of the Industrial Mining Association. Experts discussed the possibilities of mining for small and medium-sized businesses, the specifics of taxation and regulation of the industry.

Earlier in May, Evgeny Grabchak, Deputy Minister of Energy of the Russian Federation, spoke about the importance of mining in a podcast. In particular, the role of the industry for the country's energy system should not be underestimated.

"The more a power grid can use its capacity, the higher its efficiency, the lower the total cost, which is shared by everyone. Therefore, in this regard, the miners, of course, they are such a good damper, they are needed and important," he noted.

On May 14, one of the largest market players, the Russian operator of industrial mining data centers, BitRiver, in a comment to Izvestia, announced a 26% increase in annual revenue by the end of 2024. The total revenue of the group of companies exceeded 17 billion rubles. The growth of financial indicators in the company was explained, among other things, by the growing interest in mining in Russia among investors from the BRICS countries and other foreign countries.

To date, BitRiver owns 15 data centers with a total capacity of over 550 MW. According to Igor Runts, CEO of the company, today active investments continue in the construction of new data centers in the regions of Russia where excess electricity is recorded.

The year 2024 has become a landmark year for industrial mining in Russia: A federal law was passed approving the rules of operation and regulation of the industry, and the government has repeatedly stressed the importance of mining development in energy-deficient regions.

As the director of the Higher School of Finance of the Russian University of Economics noted in an interview with Izvestia. Konstantin Ordov, Plekhanova, mining has become an important element in shaping Russia's sovereign economic model. In his opinion, this industry contributes to the economic growth and technological transformation of our country.