Putin's economic advisor: Crypto assets should be included in the balance of payments; Bitcoin mining has become an "undervalued export."

According to Odaily, Russian President Vladimir Putin's economic advisor, Maxim Oreshkin, stated that crypto assets should be included in Russia's balance of payments statistics, noting that Bitcoin mining is becoming an "undervalued export project" for the country. He claimed that some Russian companies are using crypto assets for cross-border payments and profiting from the sale of mined Bitcoins abroad, thus having a real impact on the foreign exchange market.

According to data from Luxor Technology, Russia currently accounts for nearly 16% of global computing power, second only to the United States. Sergey Bezdelov, president of the Russian Industrial Mining Association, stated that Russian miners produced approximately 55,000 BTC in 2023, with production expected to drop to approximately 35,000 BTC in 2024 due to the halving. (DL News)