Bankrupt KnCMiner Bought By an Unknown Party

There is always someone ready to make the best out of things that didn’t work out for others. KnCMiner seems to have found that someone. According to recent reports, the Swedish Bitcoin mining firm has been purchased by an unknown buyer.

KnCMiner, one a leading Bitcoin mining company had recently filed for bankruptcy. The company had stated escalating costs and stiff competition as the reason for bankruptcy. The news came as a shock to the Bitcoin industry as KnCMiner was considered to be one of the prominent businesses in the sector.

The apprehensions about the company’s future have been put to rest after a Swedish tech magazine reported the news about its sale.  The magazine reports that it has spoken to Nils Aberg, a bankruptcy trustee who was involved in the KnCMiner deal.

KnCMiner has been an attractive investment option for European investors wanting a piece of the digital currency pie. The company had successfully raised over 250 million Swedish Kroners, equivalent to almost $30 million in the past couple of years. Among the investors, Accel Partners and Creandum have been the biggest ones. They had invested 83.4 million and 57.7 million Kroners respectively.

Earlier, when

Read more ... source: NewsBTC USA