Russians hold about 2 trillion rubles in crypto assets.
According to the data of the System Operator and expert estimates, the volume of all operating Russian mining, both industrial and domestic, currently amounts to about 2.7–3 GW, while mining companies have plans to reach 11 GW in the next five years. This was announced on June 1 by Oleg Ogienko, an independent expert on blockchain, energy and digital finance, on the sidelines of the fifth annual Cryptoyug crypto forum in Gelendzhik.
"Already in Russia, the average price at which Russian miners purchase electricity already exceeds 4.5–5 rubles, which at the current exchange rate is 5.7–6.3 US cents per kWh. According to CoinShares, the average price for American miners is about five US cents," the expert said.
The competition between Russia and the United States in the field of bitcoin mining will sharply escalate this year. This is due to the entry of banks, investment companies, financial and industrial groups, energy companies and private investors into the industrial mining market in both countries.
The liberal US policy towards the circulation of crypto assets has allowed the volume of spot exchange-traded funds in bitcoin (ETFs) managed by the largest American investment companies (AUM) to increase to $131.8 billion, and in ether to almost $10.2 billion as of May 30, 2025.
According to expert estimates, the funds of Russians in crypto assets at the end of 2024 were estimated at about two trillion rubles, while this figure may be even higher for legal entities, taking into account the needs for cross-border settlements. The volume of cryptocurrency trading by Russian individuals on various platforms in the world can amount to over $3 billion per day today.
Earlier, on May 30, financial analyst Dmitry Golubovsky reported that bitcoin-linked futures would help eliminate currency risks. Earlier, the Moscow Stock Exchange announced the launch of bitcoin futures trading, which will begin on June 4.
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