Russian President Vladimir Putin, at a plenary session of the Eastern Economic Forum held in Vladivostok, stated that Russia is one of the world leaders in cryptocurrency mining.

According to the president, the surplus of energy resources in Siberia used for cryptocurrency mining should not be an obstacle to the development of other industries in the region.

“I think that today Russia is already one of the world leaders in mining. And this is due to the surplus of energy capacity in Siberia,” said Vladimir Putin.

He noted that business makes good money in this sector, but attention should also be paid to housing construction, as well as energy supply for industrial complexes, the number of which continues to grow in the region.

Earlier, Vladimir Putin stated that cryptocurrency mining consumes excessive amounts of electricity, and if control is not established, a resource deficit for enterprises will arise.

Last month, Sergei Bezdelov, director of the Industrial Mining Association in Russia, reported that after the adoption of the law on limiting the circulation of cryptocurrencies, the number of people wishing to mine is growing rapidly.