BurzaDEX+
Koupit kryptoměnyTrhySpotFuturesGOLDEarnUdálosti
Více
Russia’s tax authority is now applying for the bankruptcy of a BitRiver subsidiary responsible for a massive and unsuccessful project believed to have led to theRussia’s tax authority is now applying for the bankruptcy of a BitRiver subsidiary responsible for a massive and unsuccessful project believed to have led to the

Russia's tax agency files bankruptcy process for BitRiver subsidiary

Autor: Cryptopolitan
Zdroj: Cryptopolitan
2026/02/20 19:54
4 min čtení

Russia’s tax authority is now applying for the bankruptcy of a BitRiver subsidiary responsible for a massive and unsuccessful project believed to have led to the downfall of the troubled mining giant.

The bankruptcy proceedings have been initiated in the Republic of Buryatia, which is hosting a 100 MW data center built by the company, but it has never been powered on amid restrictions on mining and growing debt.

BitRiver company faces bankruptcy procedures in Buryatia

The Federal Tax Service of Russia, FNS, has filed a bankruptcy petition against the BitRiver-B entity, part of the crypto mining group BitRiver, in the Arbitration Court of the Republic of Buryatia, media reports unveiled.

A failed multimillion-dollar investment of the mining behemoth in the region is at the heart of the case. Some say it is the mistake that led to the company’s financial strains and subsequent problems with the state, including the recent arrest of its CEO.

According to the regional news outlet “Number One,” which first spotted the court filing, the project to construct the 100 MW data processing center (DPC) in the Mukhorshibirsky District of the Far Eastern territory was first announced in 2020.

The local subsidiary, incorporated in the rural administrative center Mukhorshibir with a registered capital of 100,000 rubles, was established to implement the ambitious project, initiated by BitRiver founder and chief executive Igor Runets himself.

Construction began in 2022, with a planned launch in the second half of 2024 that never materialized. By February 2024, BitRiver had invested 1.4 billion rubles (over $18 million) in the facility, according to the business news portal RBC.

The site was intended to house powerful equipment for big data processing, digital currency mining, and cloud computing, and was supposed to create 100 jobs in the area. However, the project’s realization coincided with expanding restrictions on coin minting in this part of Siberia.

In the spring of 2025, the DPC was reportedly ready to commence operations but as a facility repurposed to serve the needs of artificial intelligence (AI) applications. In January of 2026, Russian authorities imposed a full ban on Bitcoin mining in Buryatia for the next five years.

Failed mining project blamed for BitRiver’s troubles

Sources familiar with these developments claim the failure of the data center project in Buryatia dealt a major blow to the Russian mining giant.

Quoted by RBC, they said the group could never recover and was eventually forced to halt mining operations at other places as well.

That happened amid mass employee departures and mounting lawsuits filed by contractors and energy suppliers against its entities.

BitRiver was established in 2017 and has since become Russia’s largest operator of crypto mining farms and the country’s leading importer of mining hardware.

Founder Igor Runets was accused of tax evasion at the end of January, detained and placed under house arrest. One of the demands of Russian prosecutors was that his firms pay due salaries.

Russian media reports in the following weeks detailed a tax-dodging scheme allegedly implemented by mining enterprises in the country.

Commenting on the BitRiver case, the chairman of the parliamentary Energy Committee, Nikolai Shulginov, accused Russian miners of hiding crypto-related income by officially using the same equipment to provide other services that need computing devices.

Russia legalized the minting of digital coins in 2024, requiring those engaged in the activity to register with the FNS and pay due taxes. However, only a third of known mining businesses have done that so far, according to government estimates.

BitRiver’s revenue for that year exceeded 10 billion rubles (about $130 million), helping the group top Russian rankings of mining companies in 2025, ahead of Intelion Data, which recently secured Russia’s first loan using cryptocurrency as collateral.

Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program

Prohlášení: Články sdílené na této stránce pochází z veřejných platforem a jsou poskytovány pouze pro informační účely. Nemusí nutně reprezentovat názory společnosti MEXC. Všechna práva náleží původním autorům. Pokud se domníváte, že jakýkoli obsah porušuje práva třetích stran, kontaktujte prosím service@support.mexc.com a my obsah odstraníme. Společnost MEXC nezaručuje přesnost, úplnost ani aktuálnost obsahu a neodpovídá za kroky podniknuté na základě poskytnutých informací. Obsah nepředstavuje finanční, právní ani jiné odborné poradenství, ani by neměl být považován za doporučení nebo podporu ze strany MEXC.

Mohlo by se vám také líbit

PCE Data Sparks Tensions: A Key Day for Bitcoin

PCE Data Sparks Tensions: A Key Day for Bitcoin

Bitcoin is hovering at $67,000 as the financial world awaits the latest release of the Personal Consumption Expenditures (PCE) data, considered the Federal Reserve
Sdílet
Coinstats2026/02/20 21:45
Crucial Fed Rate Cut: October Probability Surges to 94%

Crucial Fed Rate Cut: October Probability Surges to 94%

BitcoinWorld Crucial Fed Rate Cut: October Probability Surges to 94% The financial world is buzzing with a significant development: the probability of a Fed rate cut in October has just seen a dramatic increase. This isn’t just a minor shift; it’s a monumental change that could ripple through global markets, including the dynamic cryptocurrency space. For anyone tracking economic indicators and their impact on investments, this update from the U.S. interest rate futures market is absolutely crucial. What Just Happened? Unpacking the FOMC Statement’s Impact Following the latest Federal Open Market Committee (FOMC) statement, market sentiment has decisively shifted. Before the announcement, the U.S. interest rate futures market had priced in a 71.6% chance of an October rate cut. However, after the statement, this figure surged to an astounding 94%. This jump indicates that traders and analysts are now overwhelmingly confident that the Federal Reserve will lower interest rates next month. Such a high probability suggests a strong consensus emerging from the Fed’s latest communications and economic outlook. A Fed rate cut typically means cheaper borrowing costs for businesses and consumers, which can stimulate economic activity. But what does this really signify for investors, especially those in the digital asset realm? Why is a Fed Rate Cut So Significant for Markets? When the Federal Reserve adjusts interest rates, it sends powerful signals across the entire financial ecosystem. A rate cut generally implies a more accommodative monetary policy, often enacted to boost economic growth or combat deflationary pressures. Impact on Traditional Markets: Stocks: Lower interest rates can make borrowing cheaper for companies, potentially boosting earnings and making stocks more attractive compared to bonds. Bonds: Existing bonds with higher yields might become more valuable, but new bonds will likely offer lower returns. Dollar Strength: A rate cut can weaken the U.S. dollar, making exports cheaper and potentially benefiting multinational corporations. Potential for Cryptocurrency Markets: The cryptocurrency market, while often seen as uncorrelated, can still react significantly to macro-economic shifts. A Fed rate cut could be interpreted as: Increased Risk Appetite: With traditional investments offering lower returns, investors might seek higher-yielding or more volatile assets like cryptocurrencies. Inflation Hedge Narrative: If rate cuts are perceived as a precursor to inflation, assets like Bitcoin, often dubbed “digital gold,” could gain traction as an inflation hedge. Liquidity Influx: A more accommodative monetary environment generally means more liquidity in the financial system, some of which could flow into digital assets. Looking Ahead: What Could This Mean for Your Portfolio? While the 94% probability for a Fed rate cut in October is compelling, it’s essential to consider the nuances. Market probabilities can shift, and the Fed’s ultimate decision will depend on incoming economic data. Actionable Insights: Stay Informed: Continue to monitor economic reports, inflation data, and future Fed statements. Diversify: A diversified portfolio can help mitigate risks associated with sudden market shifts. Assess Risk Tolerance: Understand how a potential rate cut might affect your specific investments and adjust your strategy accordingly. This increased likelihood of a Fed rate cut presents both opportunities and challenges. It underscores the interconnectedness of traditional finance and the emerging digital asset space. Investors should remain vigilant and prepared for potential volatility. The financial landscape is always evolving, and the significant surge in the probability of an October Fed rate cut is a clear signal of impending change. From stimulating economic growth to potentially fueling interest in digital assets, the implications are vast. Staying informed and strategically positioned will be key as we approach this crucial decision point. The market is now almost certain of a rate cut, and understanding its potential ripple effects is paramount for every investor. Frequently Asked Questions (FAQs) Q1: What is the Federal Open Market Committee (FOMC)? A1: The FOMC is the monetary policymaking body of the Federal Reserve System. It sets the federal funds rate, which influences other interest rates and economic conditions. Q2: How does a Fed rate cut impact the U.S. dollar? A2: A rate cut typically makes the U.S. dollar less attractive to foreign investors seeking higher returns, potentially leading to a weakening of the dollar against other currencies. Q3: Why might a Fed rate cut be good for cryptocurrency? A3: Lower interest rates can reduce the appeal of traditional investments, encouraging investors to seek higher returns in alternative assets like cryptocurrencies. It can also be seen as a sign of increased liquidity or potential inflation, benefiting assets like Bitcoin. Q4: Is a 94% probability a guarantee of a rate cut? A4: While a 94% probability is very high, it is not a guarantee. Market probabilities reflect current sentiment and data, but the Federal Reserve’s final decision will depend on all available economic information leading up to their meeting. Q5: What should investors do in response to this news? A5: Investors should stay informed about economic developments, review their portfolio diversification, and assess their risk tolerance. Consider how potential changes in interest rates might affect different asset classes and adjust strategies as needed. Did you find this analysis helpful? Share this article with your network to keep others informed about the potential impact of the upcoming Fed rate cut and its implications for the financial markets! To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. This post Crucial Fed Rate Cut: October Probability Surges to 94% first appeared on BitcoinWorld.
Sdílet
Coinstats2025/09/18 02:25
US inflation in December exceeded expectations, causing US stocks to open lower.

US inflation in December exceeded expectations, causing US stocks to open lower.

PANews reported on February 20th that at the opening of US stock markets, the Dow Jones Industrial Average fell 0.23%, the S&P 500 fell 0.28%, and the Nasdaq Composite
Sdílet
PANews2026/02/20 22:30