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Virginia Bitcoin Mining Operation to liquidate assets



BCause Mining, a mining company owned by Bitcoin (BTC) in Virginia Beach, USA, was ordered to liquidate its assets.

In an article dated October 9, local news agency Virginian-Pilot reported that mining company Bitcoin filed for bankruptcy earlier this year. This week, a federal judge approved the motion to turn the filing of a restructuring into a Chapter 7 resolution.

BCause Mining was ordered to liquidate its assets, cease operations, and cease its 27 full-time and four part-time jobs. Time employees.

Grant of $ 500,000

The now-defunct mining company received a $ 500,000 grant from the City of Virginia Beach in January 201

8 to expand its operations to a local leased warehouse. BCause had pledged to invest more than $ 60 million in a massive expansion, making it the largest cryptocurrency mining company in North America.

Virginia Beach spokeswoman Julie Hill said the city would now consider submitting an application to the bankruptcy court to recover some of the money it paid to the mining company. The city of Virginia Beach would be considered an unsecured creditor, which means that its claim will not be processed until all secured claims have been settled.

Student hacked West Virginia Blockchain Vote app?

Cointelegraph previously reported that the Federal Bureau of Investigation (FBI) is investigating whether a University of Michigan student has attempted to hack the West Virginia dialing app. West Virginia's Secretary of State, Mac Warner, alerted the FBI in an unsuccessful attempt to gain unauthorized access to the Voatz voting app, saying the trial's activity stemmed from IP addresses linked to the University of Michigan are.


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