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Giga Watt, a bankrupt bitcoin mining company based in the United States, has just increased the value of its activities in a modified archive.
The company today unveiled a voluntary petition to the bankruptcy court of the eastern district of Washington, stating that the value of its assets is between $ 10 million and $ 50 million, much higher than the previous range $ 0- $ 50,000.
The administrator of Giga Watt's official customer support channel on Telegram, "Andrey," said Friday, "50k is a mistake." "Amendment done." The filing process was in a hurry. "The errors in that case happen."
The liabilities and the number of esteemed creditors of the enterprise remain the same as the previous petition, respectively to $ 10 million, $ 50 million and 1-49.
Giga Watt filed for bankruptcy on Monday with millions of dollars still owed to creditors, including hundreds of thousands to two electricity suppliers. Its top 20 unsecured creditors have credits worth almost $ 7 million, according to the company.
The company was launched by veteran bitcoin miner Dave Carlson in May 2017 and held a first coin offer (ICO) the same month he collected about $ 22 million of cryptocurrency at the time.
This January, however, a group of plaintiffs sued Giga Watt claiming to have conducted an unmarked supply of securities and seeking the return of their investments.
Carlson left the company in silence, in August, after a series of layoffs, according to reports.
The collapse of the company comes when the miners are increasingly difficult. For example, the bitcoin price touched a minimum of 14 months near $ 4,000 at the start of this week, peaking at nearly $ 20,000 last December. And the market capitalization of the broader crypto markets fell to $ 136 billion at the start of today, the lowest since September 26, 2017, according to CoinMarketCap data.
Image of the mining company through Shutterstock
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