KnCMiner is bankrupt

Once the mining company was one of the fastest growing in the industry. Now the bankruptcy and receivership marked probably the last phase for KnC that with consumer-friendly mining products took 2013, the ecosystem of Bitcoin and other digital currencies for themselves. The Sweden-based Bitcoin mining companies KnCMiner which had already collected 32 million dollars in venture capital from investors Accel and Creandum has now declared insolvency.

Earlier this month, a Swedish court decided yet within the meaning of KnCMiner to make a clear judgment in favor of the hardware products of titanium KnCMiner. The hardware product Titan had been offered to the mines of Altcoins and caused some problems among consumers, which resulted in court disputes. However, the CEO Sam Cole denies any connection between the declaration of bankruptcy and the recent disputes with the mining hardware customers. Cole emphasized that the primary reason is the imminent lowering of Bitcoin income in mid-July.

Currently 25 Bitcoins are released upon successful mining of a block. After mid-July, the halving of the blocks entering the Bitcoin income is halved, so that the bitcoin miners receives only 12.5 Bitcoins per block. According to Cole, the decision was for the bankruptcy of a precautionary decision of the responsible Boards of KnC to prevent waste away the deposits on time.

According to Cole, the decision was for the bankruptcy of a precautionary decision of the responsible Boards of KnC to prevent waste away the deposits on time. According to the decision KnC said it now will try the profitable parts of the company for sale, but without explaining in detail to what areas it were. The KnC group home, next KnCMiner, even companies in the software development and digital currency trading, which are under the control of a bankruptcy trustee Nils Aberg. This does not include XBT providers, a company that is partly owned KnC, and offers financial instruments based on Bitcoin.

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