Sberbank Issues Russia's First Crypto-Backed Loan to Bitcoin Miner

Source: DefiPlanet Original Title: Sberbank Issues Russia’s First Crypto-Backed Loan to Bitcoin Miner Original Link: https://defi-planet.com/2025/12/sberbank-issues-russias-first-crypto-backed-loan-to-bitcoin-miner/

Quick Breakdown

• Sberbank provides Russia’s first crypto-backed loan to Bitcoin miner Intelion Data.
• Loan secured with mined cryptocurrency using Sberbank’s Rutoken custody solution.
• Deal seen as a pilot, signalling potential expansion of crypto financing in Russia.

Main Content

Sberbank has issued the country’s first crypto-backed loan, marking a milestone for the domestic digital asset and Bitcoin mining industry. The pilot transaction was extended to Intelion Data, one of Russia’s largest industrial Bitcoin miners, with the loan secured by the cryptocurrency the company had mined.

Pilot deal signals shift in crypto financing

Sberbank confirmed that the loan is secured by digital assets generated by Intelion Data’s mining operations. However, it did not disclose the loan size, tenor, or the specific cryptocurrency used as collateral. Under the structure, the bank will hold the crypto in its own custody wallets until the loan is fully repaid.

The lender described the transaction as a pilot program, designed to test how crypto-backed financing could work within Russia’s evolving regulatory environment. Sberbank said it relied on its in-house custody solution, Rutoken, to safeguard the digital assets during the loan period, highlighting asset security as a core component of the arrangement.

According to the bank, the product could eventually be extended beyond miners to other companies holding cryptocurrencies on their balance sheets, signalling broader ambitions to integrate digital assets into traditional banking services.

Mining growth and regulatory context

Intelion Data said the deal represents a practical benchmark for the Russian mining sector, which has expanded rapidly due to access to low-cost energy. The company generated approximately $79 million in revenue in 2024 and used nearly 300 megawatts of power for Bitcoin mining. It is currently developing new mining facilities, including a site near the Kalinin Nuclear Power Plant, and is investing in gas-powered energy infrastructure.

The loan comes as Russia maintains a cautious stance on cryptocurrency regulation. Sberbank has publicly backed the gradual legalization of digital assets and has recently disclosed trials involving decentralized finance tools.

Against this backdrop, Sberbank has launched a new Bitcoin-linked bond, signalling a notable shift in the country’s approach to regulated exposure to digital assets. The product provides investors with indirect exposure to Bitcoin’s performance without holding the cryptocurrency directly.