Decrease in the Number of Registered Miners in Russia

In Russia, the number of miners operating as companies and individual entrepreneurs has decreased. According to the Federal Tax Service, from January to September 2026, 365 participants were added to the register, but 375 were removed. As of October 1, there were 1,473 registered miners left in the register. According to Quattor Advisory, 65% of the removals were due to voluntary exits from mining, 32% ceased operations, and the rest left the register due to inaccurate data or bankruptcy. Individual entrepreneurs were hit harder: their number decreased by 50 to 819. Of the 254 excluded individual entrepreneurs, 54.7% notified about the cessation of mining. In contrast, the number of legal entities increased by 40 to 654. Gaik Martirosyan, managing partner of Quattor Advisory, noted that some miners began selling equipment, as small entrepreneurs did not receive the expected profits due to high electricity and maintenance costs. Additional factors include the decline in Bitcoin mining profitability, internet outages, and plans by the Ministry of Energy to increase electricity tariffs for miners. The miners' register was launched on November 1, 2024, and companies must be registered in it for legal operations.

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