Virginia Bitcoin Mining Operation Ordered to Liquidate Assets



BCause Mining, a Bitcoin (BTC) mining operation within the metropolis of Virginia Seaside in the USA, was ordered to liquidate its belongings. 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 choose accepted 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 staff.Recoup $500,000 grantThe now-defunct mining firm obtained a $500,000 grant in January 2018 from town of Virginia Seaside to increase its operations to an area rented warehouse. BCause had pledged to speculate greater than $60 million in an enormous growth, which might have made it the biggest cryptocurrency mining operation in North America. Virginia Seaside municipal spokeswoman Julie Hill stated that town will now think about submitting a declare in chapter courtroom in an try to recoup a few of the cash it paid out to the mining firm. Town of Virginia Seaside can be thought-about an unsecured creditor, which signifies 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 stated that the exercise of the try got here from IP addresses linked to the College of Michigan.

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