Bitcoin crash, mine comes, an American mining giant announced bankruptcy

In the cold and shivering machine manufacturers.

Recently, the encrypted digital currency market is bleak and messy, especially the collapse of bitcoin, has begun to cause the follow-up of butterfly effect, lead to an American mining giant Giga Watt bankruptcy.

At the beginning of this year, bitcoin prices reached a peak of $15000, in the period of ups and downs, ushered in a continuous decline, more recently is around $4500, in this market, bitcoin mining machine manufacturers and the attachment of miners had to face a new round of mine.

One of the biggest victims of which is Giga Watt, due to the inability to repay $7 million in debt this week, Giga Watt had filed for bankruptcy. In the list of creditors can be seen in Douglas county (Douglas County) and Neppel Electric power supplier. According to court documents, Giga Watt debt for 10 million to $50 million, $50000.

Of course, Giga Watt has seen, the last 5 months, they had a ICO, raised 2200 million, but from the encrypted digital currency market into a bear market since the Giga Watt has encountered many problems, the first is because the ICO fraud is collective action, then this year 8 month, the founder of Dave Carlson resignation when 9 months of layoffs, until the last straw breaks the camel’s recent.

From the current market point of view, Giga Watt is definitely not the last one to leave the vehicle manufacturers, there is news that those located in Xinjiang, Inner Mongolia area many small bitcoin mining machine manufacturers choose to resell its liquidation, once the price as high as 2 million mills, now second-hand price only 1000 yuan, even according to catty price to sell.

Similarly, mining giants are suffering too, Scarlett to Nan Yun Chi as an example, they are listed in Hong Kong to apply because of expired, this is the three time Nan Jia Yun Zhi failed to apply for listing.

Bitcoin slump is affecting more than mine owners rushed in the front, foundry, graphics card manufacturers are struggling, from mining revenues will rapidly shrink. Stand in a line of grasshoppers, was thought to how to spend together the accident period.

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