Times are tough for bitcoin (BTC) holders, and they’ve become really tough for mining host company Giga Watt, which filed for bankruptcy protection earlier this week.

Worse, it’s facing eviction proceedings from its landlord, the Port of Douglas County.

According to The Wenatchee World, the company filed for Chapter 11 protection in the Eastern District of Washington bankruptcy court. It said it is “insolvent and unable to pay its debts when due,” according to court documents. The company listed assets of between zero to $50,000 and liabilities of between $10 million to $50 million.

The bankruptcy comes a little more a year after the company completed its first “GigaPod” at Washington’s Pangborn Memorial Airport in Douglas County, with plans for 17 more pods to provide space and power to cryptocurrency miners, according to local media.

ThirtyK Staff
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