KnC Miner Files For Bankruptcy, Begins Shutting Down Operations
In a surprise announcement, Swedish mining firm KnC Miner said today that it is filing for bankruptcy, citing Bitcoin block reward halving and competition from Chinese hardware companies. CEO Sam Cole told Bitcoin.com the company was speaking to lawyers and shutting down as much of its business as possible, but that he personally wished to continue....
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Bitcoin mining firm Compute North filed for Chapter 11 bankruptcy protection in Texas on Thursday as the crypto winter continues to put pressure on crypto mining operations. The bankruptcy petition filed on September 22, indicates the company looks to stabilize operations in order to repay creditors.
Compute North Files for Chapter 11 Bankruptcy Protection
Five months ago last April, Compute North revealed the company was building a 300 megawatt (MW) data center in Texas. Months before that at the end of 2021, Compute North entered a deal with Marathon Digital Holdings (Nasdaq:....
Voyager files for Chapter 11 bankruptcy due to their large exposure to Three Arrows Capital as the contagion continues to spread across the market.
Another crypto lender, Celsius Network, has sought bankruptcy protection in the U.S. “Customer claims will be addressed through the Chapter 11 process,” the company said. Two other crypto firms recently filed for bankruptcy protection: Voyager Digital and Three Arrows Capital (3AC). Celsius Follows Voyager, Files for Chapter 11 Bankruptcy Crypto lender Celsius Network announced Wednesday that it has “filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New....
FTX Group, which includes FTX U.S., filed for Chapter 11 bankruptcy following an intense liquidity crisis; CEO Sam Bankman-Fried stepped down.
Compute North’s hosting partners Compass Mining have stated that the firm will continue to operate business as usual at this stage. Bitcoin (BTC) mining hosting firm Compute North has filed for chapter 11 bankruptcy, amid growing pressure on the firm due to the effects of crypto winter and rising energy costs. The firm’s CEO Dave Perrill has also stepped down but will remain on the board. The company submitted a Chapter 11 bankruptcy filing in the U.S. Bankruptcy Court for the Southern District of Texas on Sept. 22, which is now pending before Judge David Jones. Under a Chapter 11 filing,....