Leonid Delitsyn, an analyst at FG Finam
Posted: Mon Jan 27, 2025 6:23 am
According to him, the draft law contains an interesting nod to the legislation on currency control. It proposes that the Federal Law "On Currency Regulation and Currency Control" does not apply to miners who meet the requirements of the Federal Law "On Digital Financial Assets..." amended by the draft law, as well as by-laws. "It is not at all obvious how this approach will work in practice. For example, if a miner is found to have violated his obligations under the Federal Law "On Digital Financial Assets", does this mean that the legislation on currency control should be applied to him retrospectively, with the collection of all relevant fines?" the lawyer reasons.
, noted that analysts estimated costa rica cell phone number list the maximum revenue of Russian miners at 128 billion rubles, although this year, due to a number of reasons, it fell to 80-90 billion rubles. "The profitability of mining in Russia is high due to the cheapness of energy, it reaches 68%, although this, of course, depends on the price of bitcoin on the market. If we assume that miners sell bitcoins at the future peak of the market, then their total profit from activities for the year can be about 50 billion rubles. Thus, based on the tax rate of about 13-15%, the state with a high bitcoin rate can expect to replenish the budget by 7 billion rubles per year. But if bitcoin becomes cheaper, then mining will become unprofitable and there will be no deductions either," the analyst reasons.
According to him, the strength of the impetus for the development of mining depends on how much decision-makers believe in the future growth of the price of bitcoin. "We will assume that there will be no problems with the sale of bitcoins, that is, no sanctions will be able to hold back the victorious march of the Russian "bitcoin". There is an estimate according to which a quarter of our mining is carried out on associated gas, but the oil companies themselves do not own mining enterprises, but only sell them energy. After the legalization of mining in favorable market conditions, oil companies will probably be able to easily acquire mining farms and earn money on cryptocurrency mining. We should not forget that the release of bitcoin is limited. But there are thousands of other types of cryptocurrencies," Leonid Delitsyn noted. In his opinion, the main advantage of the bill is that the activity that is actually carried out and, in general, harmless, will enter the legal field and can even replenish the budget. “In addition, domestic mining may be important for ensuring defense capability and economic sovereignty,” the analyst believes.
, noted that analysts estimated costa rica cell phone number list the maximum revenue of Russian miners at 128 billion rubles, although this year, due to a number of reasons, it fell to 80-90 billion rubles. "The profitability of mining in Russia is high due to the cheapness of energy, it reaches 68%, although this, of course, depends on the price of bitcoin on the market. If we assume that miners sell bitcoins at the future peak of the market, then their total profit from activities for the year can be about 50 billion rubles. Thus, based on the tax rate of about 13-15%, the state with a high bitcoin rate can expect to replenish the budget by 7 billion rubles per year. But if bitcoin becomes cheaper, then mining will become unprofitable and there will be no deductions either," the analyst reasons.
According to him, the strength of the impetus for the development of mining depends on how much decision-makers believe in the future growth of the price of bitcoin. "We will assume that there will be no problems with the sale of bitcoins, that is, no sanctions will be able to hold back the victorious march of the Russian "bitcoin". There is an estimate according to which a quarter of our mining is carried out on associated gas, but the oil companies themselves do not own mining enterprises, but only sell them energy. After the legalization of mining in favorable market conditions, oil companies will probably be able to easily acquire mining farms and earn money on cryptocurrency mining. We should not forget that the release of bitcoin is limited. But there are thousands of other types of cryptocurrencies," Leonid Delitsyn noted. In his opinion, the main advantage of the bill is that the activity that is actually carried out and, in general, harmless, will enter the legal field and can even replenish the budget. “In addition, domestic mining may be important for ensuring defense capability and economic sovereignty,” the analyst believes.