[2016-05-27] KNC Miner Declares Bankruptcy – Chinese Competition Too Tough

[LiteCoinGuy]

KNC Miner Declares Bankruptcy – Chinese Competition Too Tough

In a press release issued late Friday evening Swedish time, the Swedish bitcoin company KNC Miner informs that it has officially filed for bankruptcy.

http://swedishstartupspace.com/2016/05/27/knc-miner-declares-bankruptcy-chinese-competition-too-tough/

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[LiteCoinGuy]

https://finance.yahoo.com/news/knc-group-filing-bankruptcy-not-163402000.html

[LiteCoinGuy]

http://www.coindesk.com/kncminer-declares-bankruptcy-cites-upcoming-bitcoin-subsidy-halving/

[Denker]

Not that much of a surprise to see a company that supported BTC Classic is going down.
This just shows a fundamental lack of sound judgement.
Furthermore I read they also scammed a lot of people.Selling cloud-mining contracts while lots of very early customers were still waiting on delivery of pre-orders and so on.

[LiteCoinGuy]

Not that much of a surprise to see a company that supported BTC Classic is going down.
This just shows a fundamental lack of sound judgement.
Furthermore I read they also scammed a lot of people.Selling cloud-mining contracts while lots of very early customers were still waiting on delivery of pre-orders and so on.

probably that and if you cant mine profitable at 400-500 USD per coin, you should go out of business.