Bitcoin Miner Aquifer Files for Bankruptcy


Aquifer, a California-based Bitcoin mining firm, has filed for Chapter 11 bankruptcy. The company filed on February 19, but the official documents have just been made available today.

In the court hearing, Aquifer said that it possesses enough funds to pay off its outstanding debt, much of which is held by California businesses.

Aquifer is not the first large Bitcoin mining company to shut down in 2015. In January, CoinTerra shut down and filed bankruptcy following a lawsuit., while not fully shutting down, indefinitely suspended its cloud mining service, citing the falling Bitcoin price as reason for its service suspension.

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