Bitcoin Mining Firm KnCMiner Declares Bankruptcy
Sweden-based bitcoin mining firm KnCMiner, a startup that has raised $32m in venture funding from investors including Accel and Creandum, has declared bankruptcy. Once one of the industry's fastest-growing mining firms, the bankruptcy filing and entrance into receivership marks a new and perhaps penultimate phase for KnC, which was founded in 2013 and has drawn fire in the past from bitcoin and digital currency ecosystem over its consumer-oriented mining products. Earlier this month, a Swedish court ruled in favor of KnCMiner by effectively scuttling a lawsuit over the Titan, a hardware....
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The now bankrupt Swedish Bitcoin company, KnCMiner has been bought by an unknown buyer. Further information awaited... 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....
KnCMiner, who recently won a lawsuit against complainants who had sued over late or failed delivery of one of the company’s previous iterations of bitcoin mining hardware (the Titan) , has filed bankruptcy ahead of July’s mining reward halving. The Swedish Bitcoin mining company’s CEO Sam Cole cited energy taxes and uncertainty about the future of the Bitcoin mining market over the weekend in an interview with Swedish website Breakit.se. 44 percent of our income goes to energy taxes. If we had had that the rest of this industry, so we had not gone bankrupt today. But we do not know if or....
KnCMiner Can't Compete in hardware sales, but they might be making it up to their customers now. KnCMiner has been unable to produce quickly and ship mining equipment for some time now. After it's lengthy eight-month wait for Neptune miners, they've decided to do the right thing and stop selling mining equipment to independent miners. KnCMiner will now be selling cloud mining instead. There are reports from KnC customers that Titan order refunds are being processed, according to GAW CEO on HashTalk. That is sure to make lots of KnCMiner Customers happy if true. If KncMiner continues on....
J-J's broken KnCMiner Super Jupiter. KnCMiner has started shipping a 3 TH/s Bitcoin mining box, the largest single Bitcoin ASIC miner in existence at the moment. The unfortunate part, though, is that none of these KnCMiner Super Jupiters arrived at their destination in one piece. KnCMiner has responded promptly on their forum, promising to ship new, properly constructed, units to affected customers, free of charge. KnCMiner also emphasized that customers needing to RMA their Super Jupiter would not have to pay return shipping on the existing $10,000 “machine” that was shipped to them; they....
New background information about Butterfly Labs and Alpha Technologies has been added to this article. A potential class action against bitcoin mining firm KnCMiner is beginning to take shape. California-based attorney Charlotte C Lin has announced that her firm is investigating unlawful activities related to the sale and distribution of KnCMiner's Titan and Neptune mining products. These include breach of contract, false advertisement and public misrepresentation, which were detailed on the initiative's official website. KnCMiner, which raised $14m in Series A funding last month, has....