PANews
PANews|Feb 02, 2026 10:55
[Russian Bitcoin Mining Company BitRiver Under Bankruptcy Supervision Due to Debt Dispute] According to Russia's *Kommersant* newspaper, the major Russian Bitcoin mining company BitRiver is facing a severe crisis and may head toward bankruptcy. Its parent company has been placed under bankruptcy supervision by an arbitration court, following a claim by its primary creditor, the 'Siberian Infrastructure' company under the En+ Group, seeking to recover over $9.2 million in debt. The report indicates that BitRiver became embroiled in a legal dispute with En+ due to failing to deliver equipment despite not receiving advance payments for it. At the same time, the company is also facing multiple lawsuits from power companies seeking to recover unpaid electricity bills, with the total amount reaching several hundred million rubles. Due to its inability to pay electricity fees and local restrictions, BitRiver has ceased operations at several data centers in regions such as Irkutsk and Buryatia. It is estimated that the company previously held over 50% of Russia's mining market share. Currently, the company is negotiating changes in ownership and the transfer of remaining assets. Earlier reports stated that BitRiver's CEO was placed under house arrest on suspicion of tax evasion.
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