BCause Mining, a Bitcoin (BTC) mining operation within the metropolis of Virginia Seaside in america, was ordered to liquidate its property.
In an Oct. 9 article, native information outlet the Virginian-Pilot reported that the Bitcoin mining firm filed for chapter earlier this yr. This week, a federal decide authorised the movement to transform the submitting from a reorganization to a chapter 7 liquidation.
BCause Mining was ordered to liquidate its property, shut down its operations and lay off its 27 full-time and 4 part-time staff.
Recoup $500,000 grant
The now-defunct mining firm obtained a $500,000 grant in January 2018 from the town of Virginia Seaside to increase its operations to a neighborhood rented warehouse. BCause had pledged to take a position greater than $60 million in a large enlargement, which might have made it the biggest cryptocurrency mining operation in North America.
Virginia Seaside municipal spokeswoman Julie Hill mentioned that the town will now think about submitting a declare in chapter court docket in an try to recoup a number of the cash it paid out to the mining firm. Town of Virginia Seaside can be thought-about an unsecured creditor, which implies that its declare will solely be addressed as soon as all of the secured claims are handled.
West Virginia’s blockchain voting app hacked by scholar?
Cointelegraph beforehand reported that the Federal Bureau of Investigation (FBI) is investigating whether or not a scholar on the College of Michigan tried to hack the West Virginia’s voting app. West Virginia’s Secretary of State, Mac Warner, alerted the FBI throughout an unsuccessful try to realize unauthorized entry to the Voatz voting app and mentioned that the exercise of the try got here from IP addresses linked to the College of Michigan.