The expert spoke about the prospects of industrial mining of the Russian Federation and digital currencies

The adoption of basic regulation in August 2024 opened up new horizons for the Russian market of industrial mining and digital currencies. As a result of the tightening of regulatory control, institutional participants in the financial market and large vertically integrated production holdings began to enter the market. Vasily Girya, the owner and CEO of GIS Mining, told Izvestia about this on September 11 at the Capital Markets forum.

He noted that this creates a significant incentive for the development of innovations in the Russian digital economy. In 2025, the market of fiat and cryptocurrency instruments will continue to integrate. Qualified investors in Russia have gained access to investment products based on digital currencies.

According to GIS Mining estimates, the volume of the segment of investment instruments, such as the monetization of mined cryptocurrencies, the use of computing power of mining data centers, as well as mutual funds, CFAs and perpetual digital financial assets, may exceed 2 trillion rubles over the next year.

"The growing interest in mining digital currencies among large banks and investment companies also continues to gain momentum. If the industry's development scenario is moderately positive, the bitcoin price may reach $130,000—$135,000 by the end of 2025," Girya predicts.

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How can this affect the market and the number of players?

One of the significant steps in the industry was the introduction of the first liquid ruble-denominated stablecoin, which will significantly enhance cross-border trade and settlements with Russian trading partners. The country is actively developing an era of more widespread, but controlled by financial regulators, the use of digital assets in everyday life.

In particular, the Bank of Russia, together with the Government of the Russian Federation, is discussing the expansion of the use of crypto assets as part of the second experimental legal regime in the field of digital innovation in the financial market.

Giria noted that the new regulations for "superquals" — large institutional participants — will create a more balanced and transparent market development. In the context of geopolitical instability, cryptocurrency is becoming an important hedging tool, as well as access to international financial markets and settlements.

"Russian citizens, possessing high intellectual potential, are actively mastering new technologies, including blockchain. This has also led to a growing interest in industrial mining, which uses an open blockchain and distributed ledger technology. Russian companies are already developing and improving computing equipment management solutions, enhancing the competitiveness of the economy, including through participation in demand management for electric energy and capacity," the expert concluded.

The cost of the second most popular cryptocurrency, Ethereum, updated its historical maximum on August 25, exceeding $4,950. Experts described how this could affect the Russian market and the interest of investors. For the Russian segment, this means an increase in over-the-counter and foreign operations, as there is no full-fledged crypto exchange for a wide audience in the domestic market.

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