Let’s try that one again.

Last week bitcoin (BTC) mining company Giga Watt 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.

If you thought that asset number was somewhat low, you were correct. The asset figure has been revised, according to an amended filing. Now those assets are valued at between $10 million and $50 million.

CoinDesk got in touch with a Giga Watt official to ask what happened. The reply: “50k is an error. Amendment done. Process of filing was in rush. Mistakes in that case happens (sic).” Oh. Read more here.

ThirtyK Staff
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