An executive from a Russian cryptocurrency mining firm has projected that Bitcoin (BTC) prices may reach as high as $130,000 in the latter part of summer 2025.
This forecast was made by Vasily Girya, the CEO and owner of GIS Mining, a prominent player in the industrial mining sector, according to a report by the Russian Prime news agency. Girya remarked:
“The crypto industry remains attractive to market participants. In a moderately optimistic scenario, Bitcoin could reach an unprecedented high of $115,000 during the summer’s second half, potentially targeting $130,000.”
Could Bitcoin Reach $130,000 by Summer’s End?
As of now, Bitcoin is trading close to the $105,000 mark, having briefly surpassed $111,000 in mid-May.
GIS Mining ranks among Russia’s leading industrial miners, focusing primarily on mobile mining units and mining hotel facilities. Recent data indicate that the company had a mining capacity of 53 MW for the Financial Year 2024.
The ten largest mining firms in Russia collectively generated $200 million in revenue during FY2024, with more than half of this amount attributable to the two biggest players, BitRiver and Intelion.
Girya noted that the Russian mining sector is poised for significant growth this year, as it experiences “record-breaking” demand for new crypto mining data centers, some with capacities reaching up to 100 MW.
He explained that there is a soaring demand for equipment designed for “energy-intensive blockchain computing.”
Industry insiders reveal that in the first half of 2025, the demand for cryptocurrency mining hardware has exceeded supply.
The legalization and regulation of crypto mining in Russia, which began in 2024, have attracted more investors to the sector, they add.
The ruble’s appreciation against the dollar this year has rendered crypto mining investments more appealing for a broader range of investors.
Sandbox Initiatives Boosting Russian Mining Investments
Girya also indicated that within the next two to three years, a larger share of the coins mined under Russian jurisdiction will be utilized within the national economy.
He referenced the Central Bank’s implementation of an “experimental legal regime (ELR)” as a crucial development. The ELR operates as a crypto sandbox that includes exchange firms, cross-border trade companies, and Bitcoin miners.
This initiative allows the Central Bank to circumvent US, EU, and UK-led sanctions, which have isolated Russian firms and banks from engaging in dollar-denominated trading.
Officials at the Central Bank are encouraging crypto miners to trade their coins on exchanges within the sandbox, enabling these platforms to facilitate cross-border transactions using BTC or other cryptocurrencies.
Girya described the ELR as a significant advancement toward the institutionalization of the crypto and digital currency markets, believing it will enhance investment flows into this emerging asset class.
New Ventures in Siberia’s Coal Sector
Meanwhile, authorities in the Kuznetsk Basin, a key coal-mining area in Southwestern Siberia, are exploring Bitcoin mining initiatives to address issues related to declining coal values.
The Kemerovo Oblast branch of the Tsargrad news outlet reported that the regional government is considering a proposal for establishing crypto farms and greenhouse complexes adjacent to existing coal mines.
Governor Ilya Seredyuk asserted that the region’s coal resources could be harnessed to produce the energy essential for Bitcoin and other cryptocurrency mining.
He noted that trials are currently underway, with miners assessing the economic viability of the proposed plan, and results are expected to be released within a month.
Seredyuk added that the BTC mining initiative could potentially revitalize the local coal industry and suggested the possibility of utilizing heat from coal combustion to maintain tropical greenhouse environments in one of the coldest regions globally. He proposed:
“Why not establish a large botanical garden and grow plants that thrive in warmth?”
In a related development, a Russian power company recently announced the launch of the country’s first closed-end mutual investment fund focused on Bitcoin mining.
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