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Around 1 GW of mining load in Russia still operating ‘in shadows’

At the same time, he emphasized the necessity of developing a domestic digital infrastructure and industry mechanisms designed to serve ordinary citizens, in order to prevent the growth of the "black" and "gray" cryptocurrency markets, while ensuring that people are protected and supported by robust institutions

ST. PETERSBURG, June 21. /TASS/. Around 1 GW of mining capacity in Russia continues to operate outside the established regulatory framework, but the situation is expected to gradually improve, CEO of GIS Mining, a mining data center operator, Vasily Girya said in an interview with TASS during the St. Petersburg International Economic Forum (SPIEF).

"Around 1 GW of mining load in Russia is still operating ‘in the shadows’, and this situation will gradually change, especially with the entry of large corporations into the market," Girya noted.

At the same time, he emphasized the necessity of developing a domestic digital infrastructure and industry mechanisms designed to serve ordinary citizens, in order to prevent the growth of the "black" and "gray" cryptocurrency markets, while ensuring that people are protected and supported by robust institutions.

About the forum

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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