27 May '16, 4pm

BREAKING: KNC Miner files for bankruptcy #sthlmtech #Bitcoin

BREAKING: KNC Miner files for bankruptcy #sthlmtech #Bitcoin

In a press release issued late Friday evening Swedish time, the Swedish bitcoin company KNC Miner informs that it has officially filed for bankruptcy. Breakit has previously reported on the company’s difficulties with increasing competition from China. In February, the company laid off somewhere around ten full time employees , which constitutes a fifth of it’s total workforce, to cut costs. The parent company, KNC Group, along with its seven subsidiaries has now decided to file for bankruptcy as a result of the changing market. “Due to high uncertainty regarding the bitcoin block halving that occurs in July, in combination with a continued rapid capacity expansion from our competitors, the company is very unlikely to be able to fulfil it’s obligations past July. The board therefore took the decision to take the company voluntarily into receivership”, CEO, Sam Cole says. W...

Full article: http://swedishstartupspace.com/2016/05/27/knc-miner-decla...

Tweets

KnC Miner Files For Bankruptcy, Begins Shutting Down Operations

KnC Miner Files For Bankruptcy, Begins Shutting...

news.bitcoin.com 27 May '16, 9pm

China’s bitcoin hardware makers, which endure cutthroat competition even within their own local industry, are based mainly...

Bitcoin Mining Firm KnCMiner Declares Bankruptcy

Bitcoin Mining Firm KnCMiner Declares Bankruptcy

coindesk.com 27 May '16, 5pm

Sweden-based bitcoin mining firm KnCMiner, a startup that has raised $29m in venture funding from investors including Acce...

JUST NU: KNC Miner går i konkurs https://t.co/kzOejniTWn

JUST NU: KNC Miner går i konkurs https://t.co/k...

breakit.se 27 May '16, 4pm

Breakit har tidigare kunnat rapportera om att den tuffa konkurrensen från bland annat Kina har satt press på den svenska b...

'Bitcoin Mining Firm KnCMiner Declares Bankrupt...

bestonlinebroker.co 27 May '16, 7pm

'Jewellery has always provided a talismanic purpose: just look at the enduring appeal of birthstones or signet rings. But ...

For full Ts & Cs of our @TheBritish10k competit...

talk.brooksrunning.com 27 May '16, 3pm

a. The competition can be entered by sharing Your proudest running moment? on Twitter by using the @brooksrunningUK handle...