The Arbitration Court of the Sverdlovsk Region has initiated a supervision procedure (the first stage of bankruptcy) against LLC “Fox Group of Companies” — the owner of 98% of BitRiver. This was reported by “Kommersant“.
The application was filed by En+ structure — “Siberian Infrastructure”. The firm is demanding that the mining operator BitRiver repay a debt exceeding 700 million rubles. The amount includes an unpaid advance and penalties for undelivered equipment under contracts for 2023-2024.
In April 2025, the Arbitration Court of the Irkutsk Region had already ordered BitRiver to pay the debt, but the operator failed to comply due to a lack of assets. This led to the initiation of bankruptcy proceedings.
Sources suggest that issues may have arisen after paying VAT for the first quarter of 2024 — approximately 400 million rubles.
Additional Challenges
The situation is exacerbated by claims from other major creditors, including “Rosseti”. “En+ Supply” demands 133 million rubles in penalties for electricity, while the Irkutsk Electric Grid Company seeks 640 million rubles, according to “Kommersant”.
A decision has already been issued in favor of NTEK (a Norilsk Nickel structure) for the payment of 168 million rubles in electricity debt.
According to the publication, by the end of 2025, about 80% of BitRiver’s top managers and several employees had left. Many company offices are closed, and equipment and documentation have been removed, journalists claim.
Negotiations are reportedly underway regarding a change of ownership and the transfer of remaining assets.
On January 31, the Zamoskvoretsky Court of Moscow placed BitRiver founder Igor Runets under house arrest, writes “TASS” citing law enforcement agencies. He was accused of concealing funds for tax payments, according to an agency source. Details of the case have not been disclosed.
Back in 2024, BitRiver, in collaboration with oil and gas companies, converted over 150 million cubic meters of associated petroleum gas into electricity for bitcoin mining.