BitRiver chief held over tax allegations

The chief executive of Russian bitcoin mining firm BitRiver has been placed under house arrest as authorities pursue tax evasion charges, according to local media reports.

Russian outlets RBK and Kommersant reported that Igor Runets was detained on Friday and charged with three counts of concealing assets to evade taxes.

Court documents from the Zamoskvoretsky Court of Moscow show Runets was formally charged on Saturday and ordered into house arrest, which his lawyers can still appeal before it becomes enforceable.

BitRiver, founded in 2017, has grown into one of Russia’s largest bitcoin mining operators, running large-scale data centres in Siberia and providing mining services to third parties.

In late 2024, Bloomberg estimated Runets’ net worth at about $230 million, largely derived from his involvement in crypto mining.

The company has faced mounting pressure since being sanctioned by the US Treasury in 2022 over the Russia-Ukraine conflict, and later lost major clients including Japan’s SBI.

Kommersant also reported that BitRiver cut costs, delayed staff salaries and faced lawsuits in 2025 from a Siberian electricity provider over alleged failures to deliver contracted equipment.

At the time of reporting, Bitcoin price was $76,144.10.