Founder of Russian Crypto Mining Company BitRiver Faces Bankruptcy Petition from Banks, Involving Approximately 773 Million Rubles in Debt

On November 12, according to the Russian newspaper Kommersant, Russia's Promsvyazbank (PSB) has filed an application with the Sverdlovsk Regional Arbitration Court to declare BitRiver founder Igor Runets bankrupt over debts totaling approximately 773 million rubles.

PSB Vice Chairman Mikhail Dorofeev confirmed that Runets had provided personal guarantees for loans taken by BitRiver-B, and following the borrower's default, the bank invoked contractual clauses to hold him jointly liable for repayment.

Additionally, in February 2026, Runets was placed under court-ordered house arrest on suspicion of concealing funds or assets that could be used to collect tax arrears. Recently, several companies affiliated with BitRiver have become involved in litigation, with some entering a bankruptcy observation procedure.