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BitRiver, a data center operator for mining, hit by U.S. sanctions

BitRiver, a data center operator for mining, hit by U.S. sanctions

BitRiver, one of the largest operators of cryptocurrency mining data centers, was slapped with U.S. sanctions. The U.S. Treasury Department's sanctions list also includes 10 Russian subsidiaries of the company.

According to an official statement from the U.S. Department of the Treasury, the companies managing extensive server farms that sell virtual currency mining capacity worldwide assist Russia in monetizing its natural resources.

“Treasury can and will target those who evade, attempt to evade, or aid the evasion of U.S. sanctions against Russia, as they are helping support Putin’s brutal war of choice,” said Under Secretary for Terrorism and Financial Intelligence Brian E. Nelson. “The United States will work to ensure that the sanctions we have imposed, in close coordination with our international partners, degrade the Kremlin’s ability to project power and fund its invasion.”

Earlier, the International Monetary Fund (IMF) warned that sanctioned countries might eventually start using mining to circumvent sanctions. Mining a cryptocurrency that runs on an energy-intensive blockchain such as Bitcoin could allow countries to monetize energy resources that cannot be exported because of sanctions.

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