The number of mining companies in Russia has grown to 75,000 in 2018. Despite the fall of the cryptocurrency market, Russian entrepreneurs continue to enter mining business.

The number of companies producing cryptocurrencies in Russia in the first half of 2018 increased by 15%, to 75,000, according to Yury Pripachkin, president of the Russian Association of CryptoCurrency and Blockchain (RACIB).

According to him, now Russia accounts for about 6% of the global production of bitcoins, which is 1 percentage point more than the previous year.

"350,000 persons have already been involved in the mining industry," he added.

He also said that the number of cryptocurrency owners in Russia grew from 2.5 million people in 2017 to 3 million in the first half of 2018.

Despite the growth of the number of mining enterprises, Russia risks losing the opportunity to become a leader in the global digital market, Pripachkin fears.

"Digital money is already a reality, and Russia's delay [in legislative initiatives] means a loss of investment of up to 1 trillion rubles [$15 billion] a year," he said.

Russian State Duma delayed discussions of the cryptocurrency regulation, although earlier, according to the President Vladimir Putin's ruling, the cryptocurrency legislation should have had to be adopted in Russia till July 2018.