Russia's Crypto Mining Share Exceeds 16%; Central Bank Governor Links Activity to Ruble Strength

On December 22, Elvira Nabiullina said cryptocurrency mining could help support the ruble, highlighting Russia’s evolving stance on digital assets. Data from the Russian Industrial Mining Association shows Russia controls over 16% of the global hash rate, ranking second worldwide. Her remarks suggest growing recognition of mining’s economic role in Russia’s broader strategy for currency stability.