Russia’s largest crypto miner, BitRiver, and the Russian Direct Investment Fund (RDIF) have announced plans to develop mining data centers across BRICS nations. This initiative, unveiled at the BRICS Business Forum in Moscow on October 18, is aimed at expanding Russia’s presence in the global crypto mining sector.

BitRiver, which already operates 21 data centers in Russia and is building 10 more, will work alongside the RDIF to create infrastructure that supports crypto mining and artificial intelligence (AI) projects. The focus will be on establishing energy-intensive data centers, an area where there is a global shortage of space, according to both parties.

Igor Runets, CEO of BitRiver, explained that their partnership with the RDIF will lay the foundation for large-scale crypto mining operations, positioning Russia as a significant player in this market. Kirill Dmitriev, CEO of the RDIF, echoed this sentiment, emphasizing the potential to scale these technologies within BRICS markets.

Moscow’s support for the crypto mining industry has intensified, with the government viewing the sector as a driver of economic growth. The Russian Energy Ministry has indicated its willingness to supply miners with surplus power, and major state-owned companies like Gazprom have launched crypto mining operations. Local governments are also backing new projects, such as the construction of multiple mining data centers in the Komi Republic.

These efforts reflect Russia’s broader strategy to position itself as a global leader in crypto mining while exploring ways to navigate international sanctions. The country’s miners are also preparing to contribute substantial tax revenue, further integrating crypto mining into the Russian economy.

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