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Two bitcoin companies disappeared In Sweden

November 17, 2018 00:00:13

Bitseven.com - A couple of mining digital assets companies abruptly shut down their operations leaving behind large unpaid bills. We are talking about the municipalities of Kalix and Elvsbun located in Norrbotten district.


It should be said immediately that most of this district’s territory is located above the Arctic Circle. The energy here is produced by the local water power plant so the cost for it is considered relatively low in the region, which attracts many representatives of the mining business. But in reality the success is guaranteed not in every case.


In Elvsbuhn the American company NGDC has built a bitcoin mining center. As a major disappointment for the authorities recently their activity was unexpectedly suspended and the company disappeared without a trace leaving debts for a one and a half million dollars. The power supply company through the court demands to confiscate all their property and wants for NGDC to declare bankruptcy. However, the probability to return all the lost funds is extremely small.


Another case, the company Chasquitech planned to mine bitcoin in Kalix municipality. To do this the company rented a municipal property, but then suddenly disappeared. The authorities now want to recover from them about 55000$.


The specialists explain the arisen problem as the cost for the electricity has increased due to the dry summer and for the price drop of the main digital currency. In their opinion the situation should stabilize soon. The number of data centers should increase significantly in the future.


Category: News

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