Virginia Bitcoin Mining Operation Ordered to Liquidate Property
In an Oct. 9 article, native information outlet the Virginian-Pilot reported that the Bitcoin mining firm filed for chapter earlier this 12 months. 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 belongings, shut down its operations and lay off its 27 full-time and 4 part-time employees.
Recoup $500,000 grant
The now-defunct mining firm acquired a $500,000 grant in January 2018 from the town of Virginia Seaside to develop 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 most important cryptocurrency mining operation in North America.
Virginia Seaside municipal spokeswoman Julie Hill mentioned that the town will now take into account submitting a declare in chapter courtroom in an try to recoup among the cash it paid out to the mining firm. The town of Virginia Seaside can be thought of 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 pupil?
Cointelegraph beforehand reported that the Federal Bureau of Investigation (FBI) is investigating whether or not a pupil 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 achieve 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.