Bitcoin Giant KNC Miner Files For Bankruptcy

Bitcoin Watch Shop

“Due to a high doubt about Bitcoin halving entrance in July, total with continued fast boost in foe from a competitors, so a association will be really formidable to accommodate a obligations,” a company’s co-founder and CEO in a statement.

“We knew there were risks of doing it here in Sweden. We were aiming towards a clouds, not on building a common midsize business. We took a large investors and chances spirit. But it has not paid off. ” 

The association raised $3 million (28 million SEK) in Dec final year but has apparently still been forced to close down. The income was used to build a new server center. With the new center, a association was means to make 80 quadrillion calculations per second. However, since of a bitcoin retard prerogative halving, a increasing ability would not outcome in any substantial boost in revenue.

Sam Cole also highlights a increasingly extreme foe – and a Swedish appetite tax.

In Denmark, for example, information centers compensate about 0.5 cents per kilowatt hour – in Sweden, a figure is 19.2 cents per kilowatt hour.

“44% of a income goes to appetite costs. If we had had that a rest of


Read more ... source:

Advertise on the Bitcoin News

Do you like The Bitcoin News ? Thank you for Support us !
BTC: 1FVCSiK2ErerjH1kBP4VLS5LqR3YzmVeXf
ETH: 0xa829E61Cc130b4f02fbfc9D7763361a550C7f824