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Cryptopolitan
2019-12-09 03:10:04

Bitcoin mining company from Labrador files for bankruptcy

A Labrador-based Bitcoin mining company, Great North Data that secured massive unprotected loans from several Canadian government entities has gone belly up. Great North Data (GND) boasted of strategically setting up its high-density storage and data hosting operations for Bitcoin and blockchain technology in a jurisdiction with subsidized electricity dates, an excessively cold climate and a mining-friendly environment. Reportedly, it ran artificial intelligence data processing operations and Bitcoin mining facilities in the province of Labrador and Newfoundland. Cryptocurrency-related businesses in the region flourished when Bitcoin prices in 2017 reached record highs. Unfortunately, the golden days did not last long with

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