"The bank, Russia's largest lender, said the loan was secured using digital assets mined directly by Intelion Data. Sberbank did not disclose the size, duration, or exact type of cryptocurrency used as collateral, describing the transaction as an experimental pilot rather than a full commercial rollout. "We believe this product will be relevant not only for cryptocurrency miners, but also for companies that own cryptocurrencies," Sberbank said in a statement, adding that it may issue similar loans in the future if the model proves effective."
"Intelion Data CEO Timofey Semenov described the deal as a milestone for the Russian mining industry. Speaking to RBC, Semenov said the loan represents "an important practical example" of how crypto can be integrated into traditional finance and signals that the market is "reaching a new level." "If proven effective, this type of financing could be scaled up and used more broadly across the Russian mining sector," he said."
Sberbank issued Russia's first loan secured by cryptocurrency, providing financing to Intelion Data with digital assets mined by the borrower used as collateral. The bank did not disclose loan size, duration, or specific cryptocurrency, describing the transaction as an experimental pilot. Custody of the collateral is handled via Sberbank's Rutoken digital asset storage, with the bank holding the assets until repayment. Sberbank said the product could suit miners and other cryptocurrency-holding companies and may be replicated if effective. Intelion reported $79 million revenue in 2024, nearly 300 megawatts of data center consumption, and is building a large facility near the Kalinin Nuclear Power Plant.
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