Russia’s largest crypto-mining firm faces operational uncertainty as majority owner Fox Group enters bankruptcy observation and CEO Igor Runets is detained on alleged tax evasion charges.
BitRiver is facing a severe operational crisis after Fox Group, which owns 98% of the mining company, entered bankruptcy observation due to a $9.2 million contract dispute with Infrastructure of Siberia. CEO Igor Runets has been placed under house arrest for alleged tax evasion, while company accounts have been frozen. Additional lawsuits over unpaid electricity bills further threaten the firm’s stability.