The corporate’s founder and CEO, Igor Runets, was positioned underneath home arrest in reference to a number of tax evasion fees.
BitRiver, Russia’s largest Bitcoin miner, is on the snapping point amid mounting monetary and authorized issues. Courts have positioned its father or mother firm, Fox Group of Corporations, underneath statement as money owed and unpaid obligations pile up.
One of many disputes driving the court docket motion includes Infrastructure of Siberia. The corporate is seeking greater than $9 million after BitRiver did not ship mining gear. The case stems from a big advance fee for {hardware} that was by no means equipped. This led to a lawsuit and a ruling in favor of the vitality agency.
Operational Bans and Vitality Disputes
Operational bans have hit BitRiver’s regional websites laborious. Mining facilities in Irkutsk and Buryatia stay offline resulting from authorities restrictions. As well as, a 40 MW facility in Ingushetia was shut down by authorities for violating native guidelines.
These shutdowns have worsened the corporate’s monetary pressure, coming alongside rising disputes over unpaid electrical energy payments. Vitality suppliers have filed claims totaling lots of of thousands and thousands of rubles. Some additionally misplaced buying and selling rights after nonpayment, additional proscribing BitRiver’s capability to function.
Management points have added to the strain. The corporate’s founder and CEO, Igor Runets, was positioned underneath home arrest in reference to a number of tax evasion fees. Authorities allege that he tried to hide firm belongings to keep away from paying taxes, a declare that Runets and his authorized workforce have denied.
BitRiver’s Struggles Amid Sector Development
BitRiver has additionally struggled underneath worldwide strain. US sanctions and associate exits have minimize entry to overseas markets. Japanese companies, together with SBI, additionally withdrew from Russia, limiting monetary assist and provide channels.
The corporate as soon as managed over 175,000 rigs throughout 15 facilities, producing $129 million in income final 12 months. Its fast decline highlights the delicate steadiness between regulatory, monetary, and operational pressures in Russia’s mining business.
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Regardless of BitRiver’s setbacks, Russia’s crypto mining sector continues to increase. Grid-connected mining capability rose 33% in 2025 to 4 GW, reflecting robust home demand for industrial mining infrastructure.
Analysts say BitRiver’s chapter may sign broader challenges for large-scale miners working in restrictive areas. But the sector’s continued progress exhibits that Russia stays a serious participant in world Bitcoin mining, whilst particular person firms falter.
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