The largest US digital asset miners are mostly publicly traded. MARA (MARA), Core Scientific (CORZ), HIVE Digital (HIVE), Bitfarms (BITF), Iris Energy (IREN), Riot Platforms (RIOT), CleanSpark (CLSK), and other industry players are traded on the exchange.
American Bitcoin, a newly founded digital asset mining company backed by two of US President Donald Trump's sons, will list on the Nasdaq in early September through a merger with a publicly traded company. The project is also considering listing on Asian exchanges.
Experts told RBC-Crypto what's preventing Russian digital asset miners from going public and what opportunities are opening up for them in this field.
Time to Grow Up
The Trump family's digital asset mining company's IPO in September is a very important signal for the global crypto market, says Vasily Girya, owner and CEO of GIS Mining. He notes that such projects are becoming increasingly public, and raising capital through the stock market is seen as a scaling tool.
For the Russian market, the IPO issue remains largely theoretical, the expert believes. On the one hand, the Russian jurisdiction has not yet created an optimal environment for public listings in the digital asset sector. The market itself is under close scrutiny, and it definitely needs "time to grow up," Girya explained.
On the other hand, going public requires a commitment to full financial transparency, strict reporting, and compliance with international disclosure standards, the expert said. He added that, in the current environment, strengthening corporate governance in line with high international standards is essential for successful development.
To go public through an initial public offering, issuers must restructure and streamline their business processes and ensure transparency for potential investors, confirmed Oleg Ogienko, an independent expert on blockchain, digital finance, and energy. He estimates that this process could take Russian digital asset mining companies about a year on average.
Moreover, Ogienko notes that the overheads factor is less attractive in the sanctions environment. It's essential to find the ideal timing and share price window, he added.
"The prospects are promising"
Currently, the market capitalization of publicly traded digital asset mining companies registered in the US is approximately $25 billion, Ogienko said. He noted that the Russian industrial digital asset mining market is several times smaller, but the prospects are promising.
The key to creating and growing the capitalization of Russian industrial digital asset miners on the open market, according to the expert, lies in adapting the business to the adopted regulations, stopping illegally importing computing equipment, transparently forming the tax base, and hiring professional personnel at competitive salary.
According to Vasily Girya, large miners in Russia and the CIS region are currently choosing other incentives. These include strategic partnerships, private investment, and debt financing. This approach allows them to maintain flexibility, manage business risks, and adapt to external conditions without pressure from the public market, the expert explained.
In the future, as more stable regulations emerge and the external conditions improve, an IPO scenario could become a topic of discussion, Girya believes. In his view, listing for Russian digital asset miners is simply a matter of time and the institutional stance.
American Bitcoin, a newly founded digital asset mining company backed by two of US President Donald Trump's sons, will list on the Nasdaq in early September through a merger with a publicly traded company. The project is also considering listing on Asian exchanges.
Experts told RBC-Crypto what's preventing Russian digital asset miners from going public and what opportunities are opening up for them in this field.
Time to Grow Up
The Trump family's digital asset mining company's IPO in September is a very important signal for the global crypto market, says Vasily Girya, owner and CEO of GIS Mining. He notes that such projects are becoming increasingly public, and raising capital through the stock market is seen as a scaling tool.
For the Russian market, the IPO issue remains largely theoretical, the expert believes. On the one hand, the Russian jurisdiction has not yet created an optimal environment for public listings in the digital asset sector. The market itself is under close scrutiny, and it definitely needs "time to grow up," Girya explained.
On the other hand, going public requires a commitment to full financial transparency, strict reporting, and compliance with international disclosure standards, the expert said. He added that, in the current environment, strengthening corporate governance in line with high international standards is essential for successful development.
To go public through an initial public offering, issuers must restructure and streamline their business processes and ensure transparency for potential investors, confirmed Oleg Ogienko, an independent expert on blockchain, digital finance, and energy. He estimates that this process could take Russian digital asset mining companies about a year on average.
Moreover, Ogienko notes that the overheads factor is less attractive in the sanctions environment. It's essential to find the ideal timing and share price window, he added.
"The prospects are promising"
Currently, the market capitalization of publicly traded digital asset mining companies registered in the US is approximately $25 billion, Ogienko said. He noted that the Russian industrial digital asset mining market is several times smaller, but the prospects are promising.
The key to creating and growing the capitalization of Russian industrial digital asset miners on the open market, according to the expert, lies in adapting the business to the adopted regulations, stopping illegally importing computing equipment, transparently forming the tax base, and hiring professional personnel at competitive salary.
According to Vasily Girya, large miners in Russia and the CIS region are currently choosing other incentives. These include strategic partnerships, private investment, and debt financing. This approach allows them to maintain flexibility, manage business risks, and adapt to external conditions without pressure from the public market, the expert explained.
In the future, as more stable regulations emerge and the external conditions improve, an IPO scenario could become a topic of discussion, Girya believes. In his view, listing for Russian digital asset miners is simply a matter of time and the institutional stance.
Link for the original article: RBC