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Bitcoin Miner KnCMiner Declares Bankruptcy

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KnCMiner, who recently won a lawsuit opposite complainants who had sued over late or unsuccessful smoothness of one of a company’s prior iterations of bitcoin mining hardware (the Titan) , has filed failure forward of July’s mining prerogative halving.

The Swedish Bitcoin mining company’s CEO Sam Cole cited appetite taxes and doubt about a destiny of a Bitcoin mining marketplace over a weekend in an talk with Swedish website

44 percent of a income goes to appetite taxes. If we had had that a rest of this industry, so we had not left broke today. But we do not know if or when it will be changed.

While filing failure is being touted as a loss-cutting measure, a association will still be concerned in a other ventures, including XBT Provider, a association that KnC owns in partial that offers Bitcoin records on a Swedish NASDAQ, identical to a American Bitcoin Investment Trust. Nonetheless, a sum of 34 employees will be looking for jobs, according to a Swedish news

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