Swedish bitcoinbolaget KNC Miner goes bankrupt. The future of the company’s data center in Boden is uncertain.
KNC Miner does not believe in the profitability of its utvinnig of the digital currency Bitcoin in its three data centers in northern Sweden in the long term. While the price of Bitcoin Friday was more than twice as high as a year ago, the company announced that they are now applying for bankruptcy. This despite the fact that the company’s mining right now is profitable under the bankruptcy trustee Nils Åberg.
– My first priority is to break to be able to last until July 10, he said.
From that date he does not count that mining will be profitable anymore. That, as it happens to a halving of the number of Bitcoin a bitcoingrävare get a block that is found in the so-called block chain.
According to Nils Åberg are several companies interested in taking over KNC Miners business and he believes that there are good opportunities for a new owner to operate the company profitably, particularly on the reform of reduced energy tax for data centers that are discussed are carried out.
KNC Miner was founded in 2013 to sell the equipment to calculate the digital currency Bitcoin. The company was successful with the sale of its bitcoingrävare. For a few months in autumn 2013 sold it to an excavator for a quarter of a billion. But even then there were plans to instead use its technology to build their own bitcoingruva instead of selling hardware.
The following year KNC opened its first data center in Boden for bitcoinutvinning. Since then, two more data centers built in the city and an additional hall was planned.
Meanwhile, the KNC Miner, along with including Facebook, included in the marketing of northern Sweden as the location for data centers of activity of the organization The Node Pole. If the bankruptcy trustee can find someone who wants to pursue its activities also will mean a setback, but The Node Pole’s CEO Erik Lundström believes in continued growth.
– This is a notch in the curve, he says.
also, he hopes for a reduction in energy tax for the data center so that it is at the same level as that for the primary industry.
in order to finance the large expansion has KNC Miner raised venture capital in several rounds from investors Creandum, GP Bullhound and Accel partners. According to Di Digital, the company has received 220 million crowns on the road. 125 million of them were placed as late as early last year.
The company has for cuts earlier in the year about 35 employees, including 17 working in data centers in Boden. But Constance suffer not only the possible redundancies. According to the newspaper Norrländska Social Democrat, is also expected electricity in the municipality become more expensive due to the KNC Miner no longer will buy the surplus Constance Energi.
In addition to assets in the form of bitcoingrävare in data centers has KNC Miner also a storage Bitcoin worth “a few million” according to the bankruptcy trustee.
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