Russia's Ministry of Finance has approved new rules forcing every legal crypto miner and mining infrastructure operator to register their network IP addresses with the Federal Tax Service (FTS). The update, which adds a network-level fingerprint to the existing registry system, is the latest move by Moscow to squeeze informal mining operations that cost the state an estimated $122 million in lost tax revenue. Russia, now the second-largest crypto mining country with about 16.4% of global hashrate, is betting that IP-level tracking will make evasion much harder.
What the new rules require
Until now, the FTS registry captured only business identification details — company names, registration numbers, and tax IDs. That left a gap: miners could register one legal entity but route traffic through multiple unregistered facilities. The updated framework closes that loophole by requiring each mining operation to list specific IP addresses associated with its equipment. The registry data is restricted to state bodies, courts, the Central Bank of Russia, and power grid operators. No information is made public.
Violations such as submitting inaccurate data or antitrust breaches result in removal from the registry, which strips the legal right to mine. Unregistered mining is generally prohibited across Russia, so getting kicked off the list effectively kills a mining business.
Why Moscow is tightening
Russia legalized crypto mining in 2024, but the Ministry of Finance has progressively narrowed the room for informal operations since then. The timing isn't accidental. Hashrate Index projections for early 2026 put Russia at roughly 175 EH/s, making it the second-largest mining country behind the United States. That scale brings scrutiny — and tax liability.
Informal mining tax losses are pegged at $122 million, a figure the government clearly wants to recover. On top of that, Russia has already imposed regional mining bans across 10 energy-stressed regions. The IP address requirement gives regulators a tool to enforce those bans at the network level, not just the paper level.
The Ministry of Finance stated the updated framework will improve monitoring of financial risks, regulatory compliance, and energy consumption. In plain terms: they want to know exactly who is drawing power and where.
The enforcement test
Rules are one thing; enforcement is another. The Federal Tax Service will be the agency that actually checks whether registered miners are operating from the IP addresses they've declared. Unregistered operators — those not in the registry at all — are already illegal, but the new IP data gives the FTS a way to cross-reference power consumption data from grid operators against reported mining locations.
A key test will be how effectively the FTS enforces the updated IP address requirements against operators who don't comply. Russia's mining sector has historically been difficult to police, especially in regions where local authorities are sympathetic to miners. The central government appears to be betting that making the registry more granular — and linking it to energy data — will shift the math for operators who were willing to risk running off the books.
The next concrete development to watch: how many miners voluntarily update their registry entries before the FTS starts cross-referencing power data. The ministry hasn't announced a grace period, and the registry amendment is already approved. For miners operating in Russia's energy-stressed regions, the window to get compliant may be closing faster than expected.
