Russian crypto holdings exceed $25 billion

Russia’s cryptocurrency market is experiencing rapid growth as institutional investors increase their digital asset holdings and expand industrial mining operations.

According to Vasily Girya, CEO of GIS Mining, Russians’ crypto holdings surpassed 2 trillion rubles, equivalent to $25.4 billion, by mid-2025.

Girya shared this information during the St. Petersburg International Economic Forum (SPIEF-2025) on June 21, as reported by Tass.

“According to our estimates, by the end of the first half of 2025, the value of Russians’ holdings in crypto assets surpassed 2 trillion rubles,” he said.

This milestone reflects not only strong retail participation but also growing institutional interest in digital currencies within Russia.

Investment and asset management firms are increasing their exposure to cryptocurrencies, particularly through industrial-scale mining ventures.

Girya noted that “major investors continue to expand their digital currency portfolios by increasing orders placed with industrial mining operators.”

Russia’s abundant energy resources are being leveraged to support these large-scale mining operations, positioning the country as a significant player in the global crypto economy.

While regulatory discussions continue worldwide regarding cryptocurrency risks, Russian institutions appear to view digital assets as a strategic class with potential for substantial returns.

The expansion of industrial mining and investment activity signals confidence in the long-term profitability and stability of the sector.

Experts suggest that this momentum could foster technological innovation and contribute to economic diversification in Russia.

The growth in Russia’s crypto market highlights a divergence from some global trends, where regulatory uncertainty has slowed institutional participation.

According to Girya, the combination of abundant energy and investor interest creates favorable conditions for further development of Russia’s digital asset industry.

The evolving landscape suggests that Russia’s crypto sector may continue to expand, driven by both retail and institutional demand.