Bitcoin: Is cryptomining giant BitRiver on the verge of bankruptcy?

On the brink of disaster. Thanks to the law regulating bitcoin mining, signed in 2024 President Vladimir Putin, cryptocurrency mining companies were able to start legal operations in the Russian Federation. But it clearly did not save BitRiver one of the largest data center operators in Russia. The company is currently facing a serious financial crisis, which may well be lead to bankruptcy . This company specializes in mining bitcoins (BTC) and other cryptocurrencies, faces a number of financial and legal disputes that threaten its existence.

Key points of this article:

• BitRiver, one of the Russian Bitcoin mining giants, has faced a serious financial crisis, which has just led to bankruptcy monitoring proceedings.
• Huge debts to several companies, including a debt of 700 million rubles to “Infrastructure of Siberia”, cloud the future of BitRiver.

In an article published on Monday, February 2, 2026, Russian business daily Kommersant reports that a cryptomining group BitRiver is in a very dangerous economic situation .

Indeed, as reported, on January 27, 2026, the arbitration court of the Sverdlovsk region started bankruptcy supervision procedure against the company ” Fox Group “. Fox Group owns 98% of BitRiver shares.

These financial problems arise due to debt BitRiver before “Infrastructure of Siberia” a subsidiary company En+ Group . This debt amounts to 700 million rubles, or almost 9.2 million dollars USA for an advance paid to BitRiver under the equipment supply contract. The advance on this contract, which was not performed, was not returned.

The Bitcoin mining company also has unpaid electricity bills. Adding to the problems, it turns out that BitRiver has too outstanding electricity bills from several energy companies.

It is reported that the mining company is in debt En+ Sbyt 133 million rubles (over 1.7 million dollars ) for unpaid bills, as well as Irkutsk Electric Network Company 640 million rubles (over 8.3 million dollars ) debts.

Faced with all these difficulties, BitRiver can go to other owners with “possible transfer of all remaining assets “. Because the company, despite everything, still represents an opportunity for investors specializing in energy infrastructure.

BitRiver, once the leader in bitcoin mining in Russia, is now on the verge of collapse. Due to unpaid debts, legal disputes and even closing sites, the company is fighting for its survival. Although the cryptocurrency mining market in Russia continues to grow BitRiver may paradoxically go bankrupt or, at best, be acquired.