16/01/19 10:17 UTC-4

Giga Watt mining company announced the complete closure and termination of day operations

Giga Watt, a US-based miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
company that went bankrupt in November, announced a total cessation of operations, as reported by the CoinDesk news agency.

On Tuesday, January 15th, the company sent an e-mail to all customers. The letter reported that Giga Watt continued to operate after filing for bankruptcy until January 14. From Monday, access to facilities and computing facilities of the company is officially closed.


Mining at Giga Watt: implications for clients

Andrey Kuzenny, a shareholder of the company (10% of the shares) and the administrator of the Giga Watt channel at Telegram, confirmed that since Monday the company had completely stopped working and closed access to mining equipment.

More details about the nuances of stopping work is unknown. From the words of A. Kuzenny, employees and management of the Giga Watt cannot disclose this information for legal reasons.

Former clients of mining firms can "recall" the enclosed cryptocurrency. To do this, as reported in the Giga Watt email, you need to re-authorize on the company's website. If the identity of the depositor is identified – the full amount of money will be returned to him. However, on January 16, Andrei Kusenny reported that the cost of the Giga Watt WTT-marker holdings would not be refunded.

According to the e-mail, Giga Watt will also return some mining equipment to customers. Those customers who had time to submit applications for the return of equipment before the closure of the company will receive it soon. About other clients of the bankrupt company is unknown.

Giga Watt mining company is fully closed and stops day operations, although according to the court’s decision, the firm had to stop cryptocurrency mining operations in November. Recall that the Giga Watt company filed for bankruptcy in the court of the Eastern District of Washington (November 2018). According to court documents, the firm owes 20 creditors nearly $ 7 million, including about $ 800,000 to electricity suppliers.

Editor: Alyona Nabok

See also: "Canaan Inc. mining company can place its IPO in the USA"

#UnitedStates #mining #Giga Watt #Telegram #closing #bankruptcy



20/02/19 07:28 UTC-4

Mining: Hashflare service failure

​On the morning of February 20, the site of the Hashflare service stopped responding and resumed work only for the dinner of the same day. Reasons for missing access to the site are not yet known.

19/02/19 06:00 UTC-4

Difficult times for Bitmain: new loss information

​Representatives of the Bitmain cryptocurrency company reported that in the third quarter of 2018 they lost more than $ 500 million due to the fall in the crypto-market and active sales of digital assets, as reported by Coin Desk.

Hypes, funds, fiat money