A Russian crypto mining agency govt has claimed Bitcoin (BTC) costs might climb to the $130k mark within the second half of summer time 2025.
The claims got here from Vasily Girya, the proprietor and CEO of the commercial participant GIS Mining, the Russian Prime information company reported. Girya mentioned:
“The crypto business stays engaging to market gamers. In a reasonably optimistic situation, the worth of Bitcoin within the second half of summer time might attain an all-time excessive of $115,000. It might goal $130k”.
Bitcoin: $130k By Finish of Summer time?
On the time of writing, Bitcoin costs are wavering across the $105k mark following a short foray into $111,000 territory in mid Might.
GIS Mining is one in all Russia’s prime 10 industrial miners, and primarily focuses on cellular items and mining lodge amenities. Per current figures, the corporate’s mining capability for Monetary Yr 2024 was 53 MW.
The nation’s 10 largest mining companies posted a collective complete of $200 million in income in FY2024. Over half of this income got here from the nation’s two largest miners: BitRiver and Intelion.
Girya defined that the Russian mining sector is ready for one more burst of progress this 12 months. He mentioned that the sector was experiencing “record-breaking” demand for brand new crypto mining knowledge facilities with a capability of as much as 100 MW.
The mining chief added that demand for tools able to “energy-intensive blockchain computing” was additionally skyrocketing.
Insiders say that within the first half of 2025, demand for crypto mining {hardware} outstripped provide.
They declare that since Moscow legalized and started regulating crypto mining in 2024, extra traders have entered the market.
The ruble’s rise towards the greenback this 12 months has additionally made crypto mining funding extra viable for a lot of.
Sandbox ‘Driving Russian Mining Funding’
Girya added that over the following two to a few years, extra of the cash mined in Russian jurisdiction shall be used within the nationwide economic system.
He pointed to the Central Financial institution-run “experimental authorized regime (ELR)” as proof. The ELR is a crypto sandbox comprising trade companies, cross-border commerce corporations, and Bitcoin miners.
The financial institution is utilizing the ELR as a way of bypassing US, EU, and UK-led sanctions on Russia. The sanctions have successfully frozen Russian companies and banks out of dollar-denominated commerce.
US strikes on Iran’s nuclear websites have proven the bounds of Russia’s potential to defend its allies. It would but be to Putin’s benefit https://t.co/CPVjHmgLt4
— Bloomberg (@enterprise) June 23, 2025
Central Financial institution officers need crypto miners to promote their cash to exchanges throughout the sandbox. These exchanges can then use their cash to facilitate cross-border trades performed in BTC or different tokens.
Girya known as the ELR a “highly effective step towards the institutionalization of the crypto and digital currencies market.”
He mentioned that it could assist “enhance the influx of investments into this new class of belongings.”
Extra Coal-powered Bitcoin Miners Heading to Siberia?
In the meantime, the authorities within the Kuznetsk Basin, a serious coal-mining area in Southwestern Siberia, have proposed a Bitcoin mining-themed answer to the issue of coal depreciation.
The information outlet Tsargrad’s Kemerovo Oblast department reported that the area’s authorities is mulling a proposal to construct crypto farms and greenhouse complexes close to its coal mines.
U.S. investor and entrepreneur Anthony Pompliano introduced on Monday the creation of a brand new bitcoin treasury firm that may maintain as much as $1 billion of the world's largest cryptocurrency on its steadiness sheet. https://t.co/Gc30pO8Qkr
— Reuters Authorized (@ReutersLegal) June 23, 2025
The area’s Governor, Ilya Seredyuk, mentioned the realm’s coal might “be used to generate the vitality wanted to mine Bitcoin and different cryptoassets.”
Seredyuk mentioned exams are actually underway as miners conduct financial calculations to find out the profitability of the plan. He mentioned the outcomes can be printed in round a month’s time.
The Governor mentioned the BTC mining plan might assist reverse a current decline in coal mining. He additionally instructed that the warmth launched by burning coal could possibly be used to warmth greenhouses that home tropical crops – in one of many world’s most famously chilly areas. He mused:
“Why not create a big botanical backyard and domesticate crops that require heat?”
Earlier this month, a Russian energy agency introduced the launch of the nation’s first bitcoin mining-focused closed-end mutual funding fund (CEF).
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