Russian Crypto Mining Sector Poised for Growth with $115,000 Bitcoin Target by 2025

Vasily Girya, the owner and CEO of GIS Mining, a prominent Russian crypto mining firm, has made a bold prediction about the future of Bitcoin (BTC) prices. According to Girya, in a moderately positive scenario, the price of Bitcoin could reach an all-time high of $115,000 by the second half of summer 2025, with the potential to even target $130,000. This optimistic outlook is based on the current trends and the growing interest in the crypto industry.

GIS Mining, one of Russia’s top 10 industrial miners, specializes in mobile units and mining hotel facilities. The company’s mining capacity for the Financial Year 2024 was 53 MW, indicating a significant presence in the Russian mining sector. The country’s 10 biggest mining firms collectively posted a total of $200 million in revenue in FY2024, with over half of this revenue coming from the nation’s two biggest miners, BitRiver and Intelion.

Girya highlighted that the Russian mining sector is poised for another burst of growth this year. The sector is experiencing record-breaking demand for new crypto mining data centers with a capacity of up to 100 MW. Additionally, the demand for equipment capable of energy-intensive blockchain computing is also skyrocketing. Insiders report that in the first half of 2025, demand for crypto mining hardware outstripped supply, driven by the legalization and regulation of crypto mining in Russia in 2024, which has attracted more investors to the market. The rise of the ruble against the dollar this year has also made crypto mining investment more viable for many.

Girya further explained that over the next two to three years, more of the coins mined in Russian jurisdiction will be used in the national economy. He pointed to the Central Bank-run “experimental legal regime (ELR)” as evidence. The ELR is a crypto sandbox comprising exchange firms, cross-border trade companies, and Bitcoin miners. The bank is using the ELR as a means of bypassing US, EU, and UK-led sanctions on Russia, which have effectively frozen Russian firms and banks out of dollar-denominated trade. Central Bank officials want crypto miners to sell their coins to exchanges within the sandbox, which can then use their coins to facilitate cross-border trades conducted in BTC or other tokens. Girya called the ELR a “powerful step toward the institutionalization of the crypto and digital currencies market” and said that it would help “increase the inflow of investments into this new class of assets.”

Meanwhile, the authorities in the Kuznetsk Basin, a major coal-mining region in Southwestern Siberia, have proposed a Bitcoin mining-themed solution to the problem of coal depreciation. The region’s government is considering a proposal to build crypto farms and greenhouse complexes near its coal mines. The region’s Governor, Ilya Seredyuk, said the area’s coal could “be used to generate the energy needed to mine Bitcoin and other cryptoassets.” Tests are now underway as miners conduct economic calculations to determine the profitability of the plan. The Governor suggested that the heat released by burning coal could be used to heat greenhouses that house tropical plants, creating a large botanical garden and cultivating plants that require warmth.