According to Bloomberg, Igor Runts’s fortune is at least $230 million. In 2017, after receiving a master’s degree from Stanford University, he began building the first data center for mining in Siberia, near the city of Bratsk, where an aluminum concern is located, one of the largest shareholders which is billionaire Oleg Deripaska.
Over time, BitRiver attracted clients from the United States, China and other countries, and among its first clients were classmates of Igor Runts from Stanford University. BitRiver currently operates 15 data centers with a capacity of 533 megawatts. The company does not mine itself, but provides equipment and services to its customers, who pay for electricity and maintenance.
According to Bloomberg journalists, BitRiver data centers receive cheap electricity from energy infrastructure in a number of regions thanks to the company’s founder’s connections with financial and industrial groups. In 2023, BitRiver’s revenue grew by almost 60%, and Igor Runets called the adoption of the law on mining a historic moment, thanks to which new data centers will be opened and additional jobs will appear.
According to Bloomberg, next year BitRiver could receive additional multimillion-dollar profits; accordingly, its CEO can be called the main beneficiary of the legalization of mining in the Russian Federation.
Earlier, Igor Runets said that cryptocurrency mining in the country will become a transparent and profitable business. For law-abiding citizens and companies, the risks of investing in mining will be minimal, the businessman is sure.
Source: Bits
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