Russian Bitcoin mining company BitRiver’s founder and CEO Igor Runets was detained on January 30 on tax evasion charges. According to local media sources like RBK and Kommersant, the Moscow Zamoskvoretsky Court issued a house arrest decision on January 31 by directing three charges. The decision may become final as of February 4; the defense team has the right to appeal. Cointelegraph requested comment from Runets.
CEO Igor Runets speaking at the Russian-Arab Business Council Forum in 2020. Source: Igor Runets
Details of BitRiver CEO Igor Runets’ Detention
Runets faces large-scale tax evasion allegations. The court is investigating the businessman known for his $230 million fortune due to operations in Siberia. The defense claims insufficient evidence.
BitRiver’s BTC Mining History and Sanctions
Founded in 2017, BitRiver provides BTC mining services with giant data centers in Siberia. It was hit by US Treasury sanctions in 2022; the SBI partnership ended in 2023. Operations shrank at the end of 2024, with salaries delayed. At the beginning of 2025, Siberia Infrastructure filed two lawsuits. According to Bloomberg, Runets’ fortune reached $230 million.
BTC Price Drop Strains Mining Sector
BTC fell below $80,000 for the first time in April 2025; it has been below MicroStrategy’s cost basis ($76,037) since October 2023. Current price at $78.460,56 in downtrend (RSI 28.42, Supertrend Bearish). Low prices are eroding profitability for miners like BitRiver; energy costs are creating pressure even in Siberia.
BTC Technical Analysis: Support and Resistance Levels
| Level | Price | Score | Distance | Sources |
|---|---|---|---|---|
| S1 (Strong) | 74.604$ | 75/100 ⭐ | -4.94% | Fibo 0.000, Donchian Lower |
| S2 | 77.445$ | 56/100 | -1.32% | Pivot P |
| R1 (Strong) | 79.396$ | 73/100 ⭐ | +1.16% | Fibo 0.114, Prev Day High |
| R2 (Strong) | 83.548$ | 70/100 ⭐ | +6.45% | Fibo 0.0 |
EMA 20: 86.378$. Experts predict a 74k test if S1 breaks; danger signal for miners.
Risk Analysis of Runets Incident for BTC Miners
Sanctions and tax pressure in Russia are affecting global miners. Similar cases (e.g., China shutdowns) have created liquidity crises in the sector. Investors are advised to diversify against regulatory risk: track hash rate distribution.
What Will Happen to BitRiver and BTC Mining in the Future?
If the house arrest decision becomes final, BitRiver operations may halt. If BTC does not recover above 80k, more bankruptcies are expected in 2026. Watch: February 4 court hearing, BTC S1 level.
Source: https://en.coinotag.com/bitriver-ceo-runets-under-house-arrest-for-tax-evasion