Another Crypto Firm Went Bust, Giga Watt Bitcoin Miner Files for Bankruptcy

[kreslik.news]

Giga Watt, one of North America’s largest cryptocurrency miners, filed for bankruptcy at Washington’s Eastern District federal court, saying it would be unable to repay unsecured investors and naming hundreds of creditors in its filing.

Giga Watt had between $10 and $50 million in liabilities, with assets within the range of only $50,000, according to court documents. The firm has filed for bankruptcy protection, meaning it is likely to liquidate all assets in its bid to repay secured creditors.

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