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Bitcoin mining firm Giga Watt files for bankruptcy
UPDATED: November 22, 2018, 8:49AM EST
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Giga Watt, a bitcoin mining cloud service provider, has filed for Chapter 11 bankruptcy. Court filings show that Giga Watt owes its 20 largest unsecured creditors nearly $7M. The firm reportedly has less than $50,000 in estimated assets and liabilities in the range of $10-$50M. Giga Watt held an initial coin offering in 2017 and raised $20M to fund its operations. In January 2018, investors sued the mining firm for conducting an unregistered securities offering. (Source: CoinDesk)
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