ChainCatcher report: According to market sources, the Federal Tax Service of the Russian Federation announced that cryptocurrency miners will pay approximately 567 million rubles (around $7 million) in taxes to the state in 2025, including 84 million rubles in personal income tax and 483 million rubles in corporate income tax. This figure is significantly lower than the previously anticipated 6 billion rubles (approximately $74 million). Officials cited several factors contributing to the lower tax revenue, including rising electricity prices in Russia, high global hash rate of the Bitcoin network, a weakening ruble against the US dollar, declining Bitcoin prices, and limited legalization of mining activities. Although Russia legalized mining through legislation in 2024, requiring legal entities and individual entrepreneurs to register with tax authorities, more than two-thirds of mining businesses have yet to register.
Russia Projects $7M in Tax Revenue from Crypto Miners in 2025
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Summary
Russia’s crypto market is expected to generate 567 million rubles ($7 million) in tax revenue from miners in 2025, according to the Federal Tax Service. This includes 84 million rubles in personal income tax and 483 million rubles in corporate income tax. The figure is far below the earlier forecast of 6 billion rubles ($74 million), due to rising electricity costs, a high Bitcoin hash rate, a weaker ruble, falling Bitcoin prices, and unclear legal regulations. Mining was legalized in 2024, but more than two-thirds of companies remain unregistered. Crypto analysis indicates ongoing challenges for the sector.
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