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U.S. Sanctions Crypto Miner BitRiver Over Russian Operations

  • BitRiver is one of the largest mining-service providers
  • Crypto miner is the first to be sanctioned by Treasury
An armed guard patrols at a BitRiver mining facility in Bratsk, Russia.

An armed guard patrols at a BitRiver mining facility in Bratsk, Russia.

Source: Bloomberg

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The U.S. Treasury Department imposed sanctions on crypto mining company BitRiver, targeting one of the industry’s largest data-center service providers over its operations in Russia in its first such action.

The Switzerland-based firm offers energy sources, mining facilities and large-scale management solutions to Bitcoin miners across the world, including those in Eastern European and Russia. Such regions have been among one of the most popular destinations besides North America for miners that were forced out of China due to Beijing’s crypto mining ban last May.