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BTCC / BTCC Square / Global Cryptocurrency /
Russia’s Tax Agency Initiates Bankruptcy Proceedings Against BitRiver Subsidiary

Russia’s Tax Agency Initiates Bankruptcy Proceedings Against BitRiver Subsidiary

Author:
Global Cryptocurrency
Published:
2026-02-20 12:13:01
6
2
BTCCSquare news:

Russia's Federal Tax Service has filed for bankruptcy against BitRiver-B, a subsidiary of the crypto mining group BitRiver, in the Republic of Buryatia. The MOVE follows the failure of a 100 MW data center project that was never operational due to mining restrictions and mounting debt.

The project, announced in 2020 and spearheaded by BitRiver founder Igor Runets, saw 1.4 billion rubles ($18 million) invested before stalling. The subsidiary, established with minimal capital, now faces financial collapse as regulatory pressures tighten on Russia's crypto mining sector.

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