Russia’s Bold Bitcoin Mining: Alliances Unite for De-dollarization

Russia Mining Bitcoin Center
Source: Watcher Guru

Russia pushes de-dollarization through strategic Bitcoin mining expansion across BRICS nations. The Russian Direct Investment Fund teams up with BitRiver to build mining facilities and AI centers in BRICS countries. This cryptocurrency plan wants to create a new payment system. This could remake the way global trade is carried out and bypass traditional banking, thus contributing to de-dollarization.

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Russia’s Bitcoin Mining Expansion: Powering Global Trade and Crypto

Strategic Partnership Shapes Mining Infrastructure

Russian Data Centers
Source: DataCenterMap

RDIF and BitRiver joined forces in October 2024, which is an amazing move. They plan to build even more data centers and run AI projects in the near future. BitRiver runs 21 data centers in Russia at press time, and plans to open about 10 more. The U.S. has also sanctioned BitRiver. This makes it the first Russian mining company on their list, reflecting the growing trend of de-dollarization.

BRICS Alliance Strengthens Digital Infrastructure

BRICS joins mining and AI tech in one project. The move helps reduce dollar use and boosts trade between members. Adding AI could bring Є340 billion more to BRICS economies each year. The group wants to break free from outside control using these tools. This move also supports the ongoing de-dollarization efforts

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Regulatory Framework and Market Impact

Russia started new mining rules on November 1. Miners will have to sign up with their local tax offices and prove what hardware they own. Russia’s share of world Bitcoin mining fell to only 5% from the 11% original value. Rising power bills most likely caused the drop. Nonetheless, this regulatory framework plays a part in the broader de-dollarization strategy.

Cross-Border Payment Solutions

Russian presidential aide Yury Ushakov emphasizes the strategic importance of this initiative:

“We believe that an important goal for the future is to create an independent settlement payment system within BRICS, which would be based on the most modern technologies, such as digital currencies and blockchain.”

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He also adds:

“The system would be comfortable for states, population and business, would not require serious expenses and would be beyond politics.”