International Bitcoin miners vanish after stacking up $1.5M debt in Sweden

November 14, 2018



Sweden‘s northernmost county opened its arms to two cryptocurrency mining firms earlier this year – but it might now be regretting the decision. The county of Norrbotten, Sweden is playing host to a cryptocurrency mining mystery. Two cryptocurrency mining operations have shut up shop and disappeared, leaving only unpaid bills behind, local news outlet Sveriges Radio reports. One of them, Miami-based mining firm NGDC, had set up its operations to begin mining Bitcoin. $BTC down 1.35% However, the business shut its doors in Autumn as its electricity supply had been turned off due to unpaid bills, totaling over $1.5 million. The NGDC’s energy supplier has filed for the company to be closed and declared bankrupt. The report does not state if NGDC has successfully mined any cryptocurrency. Or what has happened to the mining company‘s mining hardware. NGDC had been operating out of premises owned by the local municipality. However, these appear to have been paid for. The municipality has not suffered any financial losses, according to the report.A second mining company called Chasqui Tech had laid out its plans to mine cryptocurrency and secured premises owned by the local municipality. However the company never arrived to commence operations.


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