How many bitcoins were Russian miners able to mine?
Russia has been consistently ranked second in the world in terms of mining volume for two years now, and the industry’s growth rate exceeds that of its competitors, experts say.
In recent years, Russia has consistently ranked second in the world in terms of bitcoin mining volume, Sergei Bezdelov, director of the Industrial Mining Association (APM), told RBC-Crypto. He reported that in the summer of 2025, the hashrate of Russian miners was 150 EH/s (exahash per second), which is about 16.6% of the global hashrate.
Hashrate is the computing power of mining equipment. The global hashrate is the total power of all active devices connected to the cryptocurrency network. The indicator is measured in hashes per second (and multiples of them – terahashes, exahashes), it indicates how many computing operations per second the equipment can produce. What is Bitcoin difficulty and hashrate. What is the difference
The first place is held by the USA with a hashrate of about 323 EH/s (35.8% of the world's capacity), in third place is China with 125 EH/s (13.8%), according to APM. Bezdelov emphasized that the main benchmarks for mining efficiency are hashrate, not electricity consumption.
Russia moved into second place back in 2023, when its share reached 16%. According to the expert, by July 2025, the figure had grown to 16.61%, and in recent months alone, the growth has been about 6%. Russia has increased its share in the global hashrate due to investments in the industry, government support, and a “favorable” climate, the APM director explained.
He also noted that since 2023, due to the introduction of a national registry for miners and tightening of regulation, the industry has become significantly whiter. But the share of illegal mining remains high – only about 30% of miners are officially registered, says Bezdelov.
Growth point
By the end of 2024, with a hashrate of 135 EH/s, Russian miners mined about 36 thousand BTC (about $4.2 billion at the current exchange rate), said Intelion Commercial Director Anton Gontarev. At the same time, the hashrate growth rate in Russia remains above the market average, while in the US, infrastructure growth has stabilized.
In addition to the cold climate and legalization of the industry, the expert named the launch of its own generation and low cost of electricity as drivers for the Russian industrial mining industry. According to him, this makes Russia one of the few jurisdictions where mining maintains high profitability even after halving and remains a growth point for the global bitcoin infrastructure.
“If the current dynamics are maintained and new projects are launched, the share of the Russian hashrate could increase to 18–19% by the end of 2025,” Gontarev believes.
“The race is just picking up speed”
According to independent expert on blockchain, energy and digital currencies Oleg Ogienko, in 2024, taking into account the average annual hashrate and the halving that took place in April, Russian miners could produce even more cryptocurrency – up to 40 thousand bitcoins. Here it is worth considering the dynamics of transaction fees and the changing complexity of the blockchain network, the expert says.
At the same time, he also drew attention to the fact that the computing equipment park in our country is not as new as in the USA. And therefore, according to his calculations, Russia's share in the average Bitcoin hashrate is currently about 130 EH/s – in fact, this is 13-14% of the world hashrate.
The total global Bitcoin hashrate is about 962 EH/s, and according to CoinShares forecasts, this summer the average hashrate will exceed the 1 Zh/s mark (1 zetahash = 1000 exahash) and by the beginning of 2027 the figure will double, Ogienko added.
He also added that if we talk about the industry’s electricity consumption, then, according to the Cambridge Centre for Alternative Finance, today the capacity of all Bitcoin miners is estimated at 22 GW, and the average annual consumption is 194 GWh.
The Russian mining segment consumes about 5 GW, said Vasily Girya, owner and CEO of GIS Mining. And the industry, according to him, continues to actively attract large institutional investors and multi-industry industrial holdings, a threefold increase in demand for mining-related services and the construction of mining data centers is recorded. The company predicts a 50% modernization of its computing equipment fleet by the end of this year.
“This year, under a moderately optimistic scenario, Russia could mine 30,000 bitcoins, taking into account market participants who have not yet entered the legal field. The race for digital resources is only gaining momentum,” Girya concluded.
Let us recall that in the first four months of 2024, before the April halving, miners received twice as many bitcoins – 6.25 BTC per mined block of transactions in the chain (blockchain). After the halving, the emission of bitcoin and the reward of miners were halved. Therefore, even with the growth of computing power, the current volumes of mined cryptocurrency may be lower than a year ago.
Источник: cryptocurrency.tech
