Sales of cryptocurrency mining machines in Russia have tripled, and regulatory attitudes have shifted to a more lenient stance

ChainCatcher news, according to Cryptonews, in the fourth quarter of 2024, the demand for cryptocurrency mining machines and related services in Russia is expected to triple year-on-year. Sergey Bezdelov, chairman of the Industrial Mining Association, stated that this is due to new regulations allowing individuals and businesses to mine legally within a certain energy consumption range.

The new regulations grant legal status to mining and require miners consuming over 6000 kilowatt-hours to register, but they still operate in a relatively relaxed regulatory environment. The Russian Ministry of Finance expects that cryptocurrency miner taxes could reach up to $500 million annually.

Meanwhile, lawmakers have indicated that they may further simplify regulations, especially for businesses using cryptocurrencies to evade sanctions, in order to promote market development.