Giga Watt, Bitcoin Mining Company Allegedly Shutting Down

Giga Watt, Bitcoin Mining Company Allegedly Shutting Down

Giga Watt, a Bitcoin mining company is likely finally going out of business after declaring bankruptcy in November 2018 according to a user who contacted CCN. The firm was in business for over a year launching with an ICO model in September 2017.

The business model of Giga Watt was different to other hosted mining solutions. In Giga Watt, Clients owned the mining hardware and paid for upkeep out of their earnings. Giga Watt offered competitive power rates which turned out to be unsustainable. A representative for the company told clients on their Customer Support Telegram channel that users could pay to have their mining hardware shipped home.

Giga Watt’s WTT token had a one-time rating of 7.0 during the ICO boom from hacked.com. WTT saw prices as high as $4.62 after it first went on the market.

Its ICO price was $1.20 or less, depending on when the sale that the holder purchased.