Russian Top10 mining companies CEOs are optimistic that BTC could reach $130,000 by the end of the summer.

Gate news, according to the Russian Prime News Agency, a senior executive of a Russian Crypto Asset Mining company said that the price of BTC (BTC) could climb to $130,000 in the second half of the summer of 2025.

This statement comes from Vasily Girya, owner and CEO of industrial giant GIS Mining. Girya said, "The cryptocurrency industry still has appeal to market participants. In a moderately optimistic scenario, the price of BTC may reach a historical high of $115,000 in the latter half of the summer and may target $130,000."

BTC: Can it reach $130,000 by the end of summer? As of the time of writing this article, the price of BTC briefly exceeded the $111,000 mark in mid-May, and is currently hovering around $106,000, temporarily reported at $106,673.

GIS Mining is one of the top ten industrial miners in Russia, mainly focusing on mobile Mining equipment and mining hotel facilities. According to the latest data, the company's Mining capacity for the 2024 fiscal year is 53 megawatts.

The total revenue of the top ten mining companies in the country in the 2024 fiscal year was $200 million. Over half of the revenue came from the country's two largest mining companies: BitRiver and Intelion.

Girya explained that the Russian Mining industry will see another growth this year. He said that the industry's demand for a new Cryptocurrency Mining data center with a capacity of up to 100 megawatts has reached a "historical high".

The mining supervisor added that there is also a soaring demand for devices capable of 'high-energy consumption blockchain computing'.

Industry insiders say that by the first half of 2025, the demand for CryptocurrencyMining hardware will exceed the supply.

They pointed out that since 2024, Moscow will legalize and regulate Cryptocurrency Mining, more and more investors have entered the market.

This year's appreciation of the ruble against the US dollar has also made investing in Crypto Assets Mining more feasible for many people.

(Source: Google Finance)

Sandbox 'Driving Russian Mining Investment' Girya added that in the next two to three years, more BTC mined within the jurisdiction of Russia will be used for the national economy.

He cites the "experimental legal system (ELR)" operated by the Russian central bank as an example. ELR is an encryption sandbox composed of exchanges, cross-border trading companies, and BTC miners.

The central bank is using ELR to circumvent the sanctions imposed on Russia by the United States, the European Union, and the United Kingdom. These sanctions have effectively excluded Russian companies and banks from dollar-denominated trade.

Russian central bank officials hope that cryptocurrency miners will sell their representative coins to exchanges within the sandbox. These exchanges can then use their representative coins for cross-border transactions with BTC or other representative coins.

Girya called ELR a significant step towards the institutionalization of the Cryptocurrency and digital coin market.

He said it would help "increase investment inflows into this new asset class".

More BTC mines powered by coal are heading to Siberia? Meanwhile, authorities in the main coal mining area, the Kuznetsk Basin in southwest Siberia, have proposed a solution with BTCMining as the theme to address the depreciation of coal.

The regional government is considering a proposal to build a Cryptocurrency farm and greenhouse complex near its coal mine, according to the Kemerovo branch of the news media 'Shagler'.

The governor of the region, Ilya Seredyuk (Ilya Seredyuk), said that the region's coal can be "used to produce the energy needed for mining BTC and other encryption assets."

Xie Lei Jiu Ke said that testing is currently underway, with miners performing economic calculations to determine the profitability of the plan. He said the results will be announced in about a month.

The governor said that the BTCMining plan may help reverse the recent decline in coal mining. He also suggested that the heat generated by burning coal could be used to heat greenhouses for tropical plants - in one of the coldest places in the world. He pondered, "Why not build a large botanical garden and grow plants that require warmth?"

Earlier this month, a Russian power company announced the launch of the country's first closed-end mutual fund dedicated to BTCMining (CEF).

(Source: Cryptonews)