“A federal bankruptcy judge has approved the auction of nearly all of HashFast’s remaining assets, putting the company out of business for good. According to court records, HashFast owes over $40 million to creditors primarily in the United States, but also to some customers in Europe, Russia, India, New Zealand, Australia, and Canada. Last Wednesday, US Bankruptcy Judge Dennis Montali granted the company’s request to sell thousands of its chips, wafers, mining boards, cooling fans, and older models of its miners. HashFast’s execution problems appear to be endemic to many of its rivals, including Butterfly Labs and venture-backed CoinTerra.”
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