"We have inherited a massive fan base of over 4 million people," its head of social media, Alex Huot, told CNN. "This will help us raise the visibility of Olympians across social networks during and post Games.
"Looking back, the IOC total fan base at the Opening Ceremony at the Vancouver 2010 Games was 1 million. By Sochi 2014 we should be close to 30 million."
Miah, who will be covering both the sporting and wider issues in Sochi, is excited by the social media possibilities ahead.
"The organizing committee has really supported independent bloggers and social media generally," he says.
"A large project called 'Sochi Reporter' was really active in the early years and I think we can expect to see social media at the heart of this Games.
"The independent media center is even open to applications from bloggers. They actually have a distinct category. This is really progress. It didn't happen in Vancouver, so you could say that Russia is ahead of Canada in this respect."
While Sochi may struggle to generate the sheer volume of Internet traffic that London did, it is well placed to capitalize on the relatively "immature" arena of social media, says Chadwick -- a professor at England's Coventry University.
"As users, consultants, brands and organizations become more social media savvy, then we should expect to see more sophisticated usage of it emerging," Chadwick, who is visiting Russian universities this month to research their sports management programs and scout for future partnerships, told CNN.
"This is particularly likely in Russia, as the country is growing rapidly, the middle class is growing and some have described Russia (specifically Moscow) as one of the most sophisticated retail environments in the world."
Think global, act social
Russia, like many countries, has its own social media platforms to rival U.S.-based multinationals Facebook and Twitter.
"As we have seen in countries like China (with Sina) and Japan (with Mixi), the dominance of sites like Facebook and Twitter can no longer be assumed," Chadwick says.
"At the moment, users and consumers in countries like Russia are often patriotic in their social media use, and also like the way in which native platforms more directly appeal to them."
Russia's version of Facebook, VKontakte -- or VK as it is usually called -- is one of its most popular websites and also runs in English and Ukrainian.
"It has millions of registered users," says Peshin. "Sure, Twitter and Facebook are popular, but not as much as the 'home' network.
"The most popular Russian social networks are already hard at promoting the Sochi Olympics. VKontakte has launched for online gamers a new Sochi 2014 application."
Celebrities such as Tom Cruise, Shakira and Kevin Spacey are among those who promote themselves on VK's English language platform.
"One thing that will be interesting to watch is how live translation will affect the global village of social media," Miah told CNN.
"Until now, we have pretty much lived in language silos but, increasingly, platforms have an auto-translate system that works pretty well.
"It still might be too early, but I think this will allow many more people to understand how locals are experiencing the Games, in their own words.
"I am surprised that Sochi 2014 have not developed a live translation app. This would have been a cool thing.
"Imagine an Olympic tourist from Japan walking up to an Olympic volunteer, not being able to speak any other language -- if the volunteer could say something in Russian into their mobile phone and it played back a translation in Japanese, this would be huge!"
Miah is hoping to see innovative use of Google Glass -- the search-engine giant's foray into next-level hands-free tech.