Sberbank and cryptocurrency miners: the first Bitcoin-backed loan in Russia

The Russian financial sector marked a milestone: Sberbank, the second-largest credit institution in the country, provided financing to one of the largest Bitcoin miners for the first time, using digital currency as collateral. This innovative solution opens new prospects for the entire crypto mining industry and demonstrates the traditional banking sector’s readiness to adapt to the evolving realities of digital assets.

A Historic Deal: How Sberbank Will Support Miners

Sberbank positions this operation as a pilot project, expressing clear interest in expanding this type of lending format in the future. Intelion Data, the company that received the loan, became the first Russian miner to attract funding through such an innovative method. According to bank representatives, this tool will be needed not only for cryptocurrency miners but also for other organizations holding digital assets and requiring capital.

Intelion Data CEO Timofey Semenov described the concluded agreement as a practical precedent for the industry, noting that it indicates a transition of the market to a qualitatively new level of development. If this experience proves effective, it could be scaled and implemented in other segments of the Russian mining industry.

Rutoken: Crypto Custodial Solution as a Guarantee

A key element of structuring the loan was the use of Sberbank’s own product — Rutoken. This crypto custodial platform provides secure storage of Bitcoin used as collateral for borrowing. Thus, the bank has created a three-tier protection system: technological (via Rutoken), financial (via collateral mechanism), and legal (through compliance with Russian legislation).

Sberbank emphasized that the Bitcoin mined by the company remains secure throughout the entire loan period, completely eliminating risks associated with storing and transferring digital assets. This approach demonstrates a high level of professionalism in working with cryptocurrency assets.

From Financial Instruments to Legalization: A Path for Miners

Anatoly Popov, Deputy Chairman of Sberbank’s Management Board, revealed broader plans of the credit organization regarding digital assets. The bank already offers clients structured bonds and special financial products allowing investment in Bitcoin (BTC, $77.92K), Ethereum (ETH, $2.39K), and diversified crypto baskets. These tools are aimed at both retail and institutional investors.

Moreover, Sberbank is actively exploring decentralized finance (DeFi) tools and positions itself as a supporter of gradual and justified legalization of cryptocurrencies within the framework of existing Russian legislation. Such an approach creates a favorable ecosystem for miners, who gain confidence that their activities are supported by one of the leading financial institutions in the country.

The event symbolizes a moment when the traditional financial system and the crypto industry begin a constructive dialogue. For miners, this means access to sources of capital that were previously unattainable, and for Sberbank — a new segment of profitable and promising business. This experiment could become a starting point for broader integration of digital assets into the structure of the Russian financial system.