TLDR:
- The court initiated insolvency monitoring for BitRiver after En+ filed for bankruptcy over an unpaid $9.2M debt.
- BitRiver founder Igor Runets was placed under house arrest on tax evasion charges amid the company’s crisis.
- Multiple mining sites shut down due to regional bans and unpaid electricity bills exceeding 940M rubles.
- The company lost 80% of top management by late 2025 as ownership transfer negotiations were underway.
BitRiver, Russia’s largest bitcoin mining operator, has entered insolvency proceedings after a court filing over unpaid debts exceeding $9.2 million.
The company confronts multiple challenges, including frozen assets, outstanding electricity bills, facility shutdowns, and…