Bitriver (Bitriver Rus)

Bitriver (Bitriver Rus LLC) is the operator of a data center that leases its facilities. The company is part of Fox Laboratories LLC, owned by Bitriver CEO Igor Runets as of November 2019.

Performance indicators

2024: Revenue growth by 9.9% to 10.3 billion rubles

At the end of 2024, the largest operator of mining data centers in Russia BitRiver (Bitriver Rus LLC) received 10.29 billion rubles in revenue. This is 9.9% more compared to the previous year, when the figure was 9.36 billion rubles. Such data are contained in the financial statements, which TAdviser got acquainted with at the end of May 2025.

The cost of sales on an annualized basis rose by 12% - from 8.19 billion rubles to 9.17 billion rubles. Commercial expenses are not reflected in the report, and management expenses have more than doubled - from 425.61 million rubles to 870.65 million rubles. Revenues from the sale of products, goods, works and services were recorded in the amount of 11.58 billion rubles, which is 25.3% more than in 2023 (9.24 billion rubles). Payments to suppliers (contractors) for raw materials, materials, works and services for the year increased by 30.4% - from 8.71 billion rubles to 11.36 billion rubles. Expenses in connection with the remuneration of employees decreased from 303.94 million rubles to 236.09 million rubles, that is, by 22.3%.

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Фото: Freepik

In 2024, BitRiver's gross profit amounted to 1.11 billion rubles, which is 5.3% less than the previous year, when it was 1.17 billion rubles. At the same time, net profit jumped by 71.1% - from 118.21 million rubles to 202.21 million rubles.

As of May 2025, BitRiver operates 15 data centers with a total capacity of more than 533 MW, where more than 175 thousand units of computing equipment are located. Data centers are located in energy-efficient regions of the regions of Russia, which are optimally suitable for the functioning of energy-intensive systems: in the Irkutsk region, Krasnoyarsk Territory, Orenburg region, the republics of Tuva and Buryatia, Khanty-Mansi Autonomous Okrug, Yamalo-Nenets Autonomous Okrug, etc. Several associated petroleum gas projects have been implemented: the capacity of such facilities by the end of 2024 exceeded 30 MW.^[1]

2018: Revenue - about 14 million rubles

At the end of 2018, the revenue of Bitriver Rus LLC amounted to about 14 million rubles, a net loss of 70 million rubles.

Aktivs

As of November 2019, the company has a sales office in Moscow, a back office in Yekaterinburg and a data center in Bratsk (Irkutsk Region).

History

2025: En + sues ₽950 million from BitRiver

The Arbitration Court of the Irkutsk Region satisfied the claim of the Infrastructure of Siberia company (part of En +) to recover ₽954,4 million from Fox Group of Companies, which owns 49% of Bitriver Management Company. This became known in mid-May 2025. In 2024, Bitriver Rus revenue amounted to ₽10,28 billion, an increase of 9.9%, and net profit increased by 71.1% to ₽202,21 million.

According to Kommersant, as part of the dispute, the court seized the defendant's funds and equipment pledged in favor of the plaintiff to ensure the fulfillment of supply obligations. The court also forbade the defendant to use the pledged equipment, pointing out the risks of its damage.

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Фото: Freepik

Another structure of En + - "Bit +" - requires ₽256,7 million in an arbitration court with Bitriver Rus. Within this amount, the defendant's accounts were also seized. According to the Federal Tax Service, operations on the accounts of Bitriver Rus have been suspended.

The total amount of claims of En + structures against companies associated with BitRiver exceeds ₽1,21 billion. The FTS service also has information about the suspension of operations on the accounts of Stroyservice Plus LLC, which owns 49% of Bitriver Management Company. In April 2025, the publication of the agency PKO "Aidi Collective" appeared in the register of legally significant information about the intention to apply to the court with a bankruptcy petition "Stroyservice Plus."

BitRiver owns 15 data centers with a total capacity of more than 533 MW, where more than 175 thousand pieces of equipment are located. En + is a former partner of the operator in the joint venture "Bit +," created in 2020. As part of this project, En + was responsible for supplying electricity to the Bratsk site, and BitRiver was engaged in operational management. In April 2025, according to the Unified State Register of Legal Entities, the BitRiver structure withdrew from the project, transferring 20% to the En + structure, which became the sole founder of Bit +.

Infrastructure Siberia reported that an equipment supply agreement was concluded with Fox Group of Companies. The company made a preliminary payment for the goods, but the equipment was not delivered, which is why the contract was terminated, and Infrastructure of Siberia applied for a refund of the advance and a penalty for delay.^[2]

2024: Partnership with RDIF regarding the construction of data centers in the BRICS countries

and Russian Direct Investment Fund (RDIF) BitRiver, Russian data centers an energy-intensive computing operator (DPC) and importer of computing equipment, announced a partnership to jointly implement technology (artificial intelligence AI) implementation projects, increase its share Russia to construction in the global computing power and processing center market data. RDIF countries BRICS TAdviser representatives shared information about this with the portal on October 18, 2024.

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Фото: BitRiver

In the BitRiver portfolio as of October 2024 - 21 operating data centers in Russia and 10 more data centers are under construction. The company creates backbone IT clusters and new jobs in the regions where it operates.

Cooperation between RDIF and BitRiver is aimed, among other things, at implementing opportunities for building data centers in the BRICS countries and forming appropriate partnerships. The increase in the pace of introduction of artificial intelligence has led to a global shortage of empty seats in energy-intensive data centers. For Russia, this opens up significant opportunities, taking into account the availability of ready-made capacities in data centers and expertise on their construction and operation, according to the RDIF.

According to Kirill Dmitriev, CEO of RDIF, the joint use of high-tech infrastructure in the future will allow the participants in the association to reduce costs, reduce dependence on foreign technology suppliers, develop their own digital solutions and independently control critical data.

"The development of computing power for the introduction of artificial intelligence in various industries is a priority for Russia and partners in the BRICS association. Together with BitRiver, we will focus on expanding the capabilities of data centers and computing equipment with the possibility of further scaling technologies in the BRICS markets, "said Kirill Dmitriev.

As Igor Runets, owner and CEO of BitRiver, noted for his part, together with RDIF, the company will focus on creating an infrastructure base based on mining - building data centers and bringing the necessary capacities to them so that it is possible to deploy and implement projects related to AI, and thus develop this direction throughout the country.

"Mining is not just a foundation for the digital economy. If Russia catches up with the United States in such a fundamental branch of the digital economy as mining, it means that our country can no longer be reckoned with. This is further economic growth, liquidity for mutual settlements with our partners, the foundation for the development of artificial intelligence, the creation of highly qualified jobs throughout the country, "added Igor Runets.

2022

Program for the construction of data centers in Yakutia and Buryatia

In September 2022, it was announced that the largest mining operator in Russia, BitRiver, will build new data centers in Yakutia and Buryatia. For business, these regions are attractive for cheap electricity and tax breaks. The first of the data centers in Buryatia with a capacity of 100 MW is already under construction.

Memorandum with Gazprom Neft on mining cryptocurrencies in oil fields

In mid-June 2022, Gazprom Neft and BitRiver signed a memorandum of cooperation in the field of cryptocurrency mining. Read more here.

Falling under US sanctions

On April 20, 2022, against the background of Russia's special operation To Ukraine USA , sanctions were imposed against the largest data center for mining cryptocurrencies Bitriver, which leases a building near the Bratsk Aluminum Plant and the Bratsk Hydroelectric Power Station. Media reports that Bitriver is linked to. Oleg Deripaska

2021: Giant mining migration from China

In 2021, Russia became the largest recipient of cryptocurrency mining devices from China after the ban on mining in the Celestial Empire.

The Russian mining hosting BitCluster company accepted over 5,000 devices within a few weeks after the ban on mining in, and China BitRiver claims that over the past months it has deployed 1.8 million miners from China. The company had to reject the offer of a client who wanted to bring another million devices. Many are running out of space.

2020: Creation of a mining farm in Siberia in conjunction with En + Group

On November 5, 2020, aluminum and electricity producer En + Group announced the creation of a joint venture with the operator of the BitRiver cryptocurrency mining center. The partners agreed to develop projects in the field of cryptocurrency mining using renewable energy. More detailed here.