American mining company Giga Watt announced the termination of work in my official Telegram-channel. The firm had disconnected the electricity supply for its facilities and fired most of its employees.
In November 2018 Giga Watt filed a petition in court for bankruptcy. Nevertheless, the company continued mining operations after the application. Representatives of the firm explained that verified users can withdraw their funds until the end of February. In addition, Giga Watt promised to contact the resident mining accommodation and return their equipment within two weeks.
“The outcome of the trial will determine the additional information that can be provided to customers. Until that time, Giga Watt will remain only a few employees who can help you with questions regarding the withdrawal of funds from the account, verification of KYC and General issues”, — explained representatives of the company.
A protracted bear market in 2018 led to the bankruptcy of 80% of mining companies in South Korea.