SBI Crypto ends cooperation with BitRiver, according to reports

Japanese SBI Holdings, the parent company of miner SBI Crypto, has terminated its cooperation with the Russian data-center operator BitRiver, which is under U.S. sanctions. CoinDesk reports this, citing informed sources.

SBI Crypto’s division housed its mining machines at BitRiver’s facilities in Siberia.

BitRiver neither confirmed nor denied that SBI Holdings or its subsidiary had been their client.

“The SBI Group has already halted all mining in Siberia. And we are not mining in any other part of Russia. Regarding any other information, I”‘m afraid I cannot disclose it,” said a representative of SBI Holdings in response to CoinDesk’s request.

After sanctions against Russia, they tried to sell their equipment in country. However, he did not specify how this could be achieved without the hosting company’s involvement.

In April, OFAC imposed sanctions against the BitRiver group that conducts cryptocurrency mining in Russia. The founder Igor Runets told ForkLog that he views this move as unfair competition.

In the same month, the equipment and services provider for Bitcoin mining Compass Mining decided to sell equipment hosted on BitRiver’s platforms.

Meanwhile, the Russian data-center operator continued its cooperation with UAE-based Phoenix Technology Consultants. In November 2021, BitRiver announced a deal to supply Phoenix 300 MW of hosted capacity by the end of 2022.

CEO of Phoenix Munaf Ali did not comment on the relationship with BitRiver, adding only that “the company operates widely in Russia”.

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