U.S. Treasury’s Office of Foreign Assets Control sanctions crypto mining firm Bitriver and its Russian subsidiaries.
in crypto mining due to its abundant energy resources and cold climate, the department elaborated. “However, mining companies rely on imported computer equipment and fiat payments, which makes them vulnerable to sanctions,” it pointed out in a statement, further emphasizing:
Bitriver is a major operator of mining datacenters which was founded in Russia in 2017. It has three Russian offices, with 200 full-time employees, and maintains a presence in several other countries, including the U.S. Last year, Bitriver transferred legal ownership of its assets to the Zug, Switzerland-based holding company Bitriver AG.
According to its website, Bitriver specializes in providing hosting services and turnkey solutions for large-scale crypto mining, data management, and blockchain and AI operations to institutional investors. The company brands itself as the “world’s largest hosting provider for green cryptocurrency mining” as it utilizes hydroelectric power to run its mining facilities.
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