BitRiver, Russia's largest cryptocurrency mining company, is embroiled in bankruptcy watch proceedings due to its controlling shareholder facing bankruptcy scrutiny. On January 27, the Sverdlovsk Regional Arbitration Court initiated bankruptcy watch on Fox Group, which holds a 98% stake in BitRiver. This case stems from a dispute over a $9.2 million equipment supply contract with energy infrastructure operator Infrastructure of Siberia. Furthermore, BitRiver founder and CEO Igor Runets has been placed under house arrest by a Moscow district court on suspicion of tax evasion. Currently, BitRiver's related accounts have been frozen, and the company faces other legal action for unpaid electricity bills. The company has been on the U.S. OFAC sanctions list since 2022.