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Russian President Putin’s economic advisor Maxim Oreshkin stated that crypto assets should be included in Russia’s balance of payments statistics, noting that Bitcoin mining has become an “undervalued export project” for the country. Russian companies are using crypto for cross-border payments, importing goods, and selling mined coins for profit, which has a real impact on the foreign exchange market. According to data from Bitcoin mining company Luxor Technology, Russia accounts for nearly 16% of global hash rate, ranking second only to the United States. Sergey Bezdelov, chairman of the Russian Industrial Mining Association, pointed out that Russian miners mined about 55,000 BTC in 2023 and around 35,000 BTC in 2024 (due to the 2024 halving). (DL News)

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