PANews reported on February 2nd that, according to Russia's Kommersant newspaper, BitRiver, a major Russian Bitcoin mining company, is facing a serious crisis and may go bankrupt. Its parent company has been placed under bankruptcy watch by an arbitration court, with its main creditor, En+ Group's "Siberian Infrastructure" company, demanding repayment of over $9.2 million in debt. The report indicates that BitRiver is embroiled in legal disputes with En+ due to its failure to deliver equipment after not receiving advance payments. Simultaneously, the company faces multiple lawsuits from power companies seeking unpaid electricity bills, totaling hundreds of millions of rubles. Due to its inability to pay electricity bills and local injunctions, BitRiver has ceased operations at several data centers in Irkutsk, Buryatia, and other locations. It is estimated that BitRiver previously held over 50% of the Russian mining market share. The company is currently negotiating a change of ownership and the transfer of remaining assets.

Previously, it was reported that BitRiver's CEO was placed under house arrest for alleged tax evasion.