Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
An executive from a Russian cryptocurrency mining company has asserted that Bitcoin (BTC) prices may reach the $130,000 level in the latter part of summer 2025.
This assertion was made by Vasily Girya, the owner and CEO of the industrial entity GIS Mining, as reported by the Russian Prime news agency. Girya stated:
“The cryptocurrency sector continues to be appealing to market participants. In a moderately optimistic scenario, Bitcoin’s price in the latter half of summer could achieve a record high of $115,000, potentially aiming for $130k.”
Bitcoin: $130k By End of Summer?
As of this writing, Bitcoin prices are fluctuating around the $105,000 mark after a brief spike into the $111,000 range in mid-May.
GIS Mining ranks among Russia’s top 10 industrial miners, primarily focusing on mobile units and mining hotel facilities. According to recent data, the company’s mining capacity for the Financial Year 2024 was 53 MW.
Inside a GIS Mining data center. (Source: GIS Mining/YouTube/Screenshot)
The ten largest mining companies in the country reported a combined revenue of $200 million in FY2024. More than half of this revenue was generated by the two largest miners: BitRiver and Intelion.
Girya noted that the Russian mining industry is poised for another growth surge this year. He mentioned that the sector is witnessing “record-breaking” demand for new cryptocurrency mining data centers with capacities of up to 100 MW.
The mining executive further indicated that the need for equipment capable of “energy-intensive blockchain computing” is also surging.
Insiders report that in the first half of 2025, the demand for cryptocurrency mining hardware exceeded supply.
They assert that since Moscow legalized and began regulating cryptocurrency mining in 2024, a greater number of investors have entered the market.
This year, the ruble’s appreciation against the dollar has also made cryptocurrency mining investments more feasible for many.
RUB-USD prices over the past year. (Source: Google Finance)
Sandbox ‘Driving Russian Mining Investment’
Girya added that in the next two to three years, a larger portion of the coins mined within Russian jurisdiction will be utilized in the national economy.
Related Posts
He highlighted the Central Bank-operated “experimental legal regime (ELR)” as a key example. The ELR serves as a cryptocurrency sandbox that includes exchange firms, cross-border trade companies, and Bitcoin miners.
The bank is leveraging the ELR to circumvent US, EU, and UK-led sanctions on Russia, which have effectively excluded Russian firms and banks from dollar-denominated transactions.
US strikes on Iran’s nuclear sites have shown the limits of Russia’s ability to defend its allies. It might yet be to Putin’s advantage https://t.co/CPVjHmgLt4
— Bloomberg (@business) June 23, 2025
Officials from the Central Bank aim for cryptocurrency miners to sell their coins to exchanges within the sandbox. These exchanges can then utilize their coins to facilitate cross-border transactions conducted in BTC or other tokens.
Girya described the ELR as a “significant step toward the institutionalization of the cryptocurrency and digital currencies market.”
He stated that it would assist in “boosting the influx of investments into this new asset class.”
More Coal-powered Bitcoin Miners Heading to Siberia?
In the meantime, authorities in the Kuznetsk Basin, a prominent coal-mining area in Southwestern Siberia, have proposed a Bitcoin mining-related solution to address the issue of coal depreciation.
The news outlet Tsargrad’s Kemerovo Oblast branch reported that the regional government is considering a proposal to establish cryptocurrency farms and greenhouse complexes adjacent to its coal mines.
U.S. investor and entrepreneur Anthony Pompliano announced on Monday the creation of a new bitcoin treasury company that would hold up to $1 billion of the world’s largest cryptocurrency on its balance sheet. https://t.co/Gc30pO8Qkr
— Reuters Legal (@ReutersLegal) June 23, 2025
The region’s Governor, Ilya Seredyuk, stated that the local coal could “be utilized to generate the energy required to mine Bitcoin and other cryptoassets.”
Seredyuk mentioned that tests are currently being conducted as miners perform economic assessments to evaluate the feasibility of the initiative. He indicated that the findings would be released in approximately a month.
The Governor expressed that the BTC mining initiative could help reverse a recent downturn in coal mining. He also proposed that the heat generated from burning coal could be used to warm greenhouses that cultivate tropical plants – in one of the world’s coldest regions. He pondered:
“Why not establish a large botanical garden and grow plants that require warmth?”
Earlier this month, a Russian power company announced the establishment of the nation’s first bitcoin mining-focused closed-end mutual investment fund (CEF).
The post Russian Crypto Mining Chief: Bitcoin Could Hit $130k Before Summer Is Out appeared first on Cryptonews.
