Head of Major Mining Company BitRiver Arrested in Moscow

The founder and CEO of the Russian mining company BitRiver, Igor Runets, has been placed under house arrest. He is accused under the article on concealment of funds or property from which taxes are collected (Article 199.2 of the Russian Criminal Code). This was reported by TASS with reference to law enforcement agencies.

BitRiver is the largest operator of mining data centers and importer of specialized equipment in Russia. The company«s website states that it manages 15 facilities with a total capacity of over 500 MW.

According to the database of the Zamoskvoretsky Court in Moscow, the case materials were received on January 31, when the entrepreneur was placed under house arrest. As follows from the court documents, the decision will come into force on February 4.

According to the Telegram channel Baza, Runets was detained on January 30, and the investigation holds him responsible for three episodes of asset concealment.

Runets completed an MBA program at Stanford University in 2017. It was during his studies that he became interested in cryptocurrency, and his classmates became the first clients of the company he was creating. In the same year, the entrepreneur launched the construction of the first data center for mining in Bratsk (Irkutsk region).