Spanish mining startup CryptoSolarTech who intended to build in Malaga the country’s largest mining farm that operates using solar energy, but was unable to obtain a building permit, shall terminate its activities and return to investors $68 million invested by them in the project during the ICO. About this on Twitter said IT-the lawyer Sergio Carrasco (Sergio Carrasco).
Vaya, parece que Cryptosolartech cesa operaciones… #surprise #NOT Al menos dice que devolverá lo obtenido en la ICO. pic.twitter.com/DlWx4uphHv
— Sergio Carrasco (@sergiocm) February 19, 2019
The company is willing to return the funds within 60 days, but does not assume the responsibility for the tokens purchased later on February 11 this year. ICO project took place in the summer of 2018 – two months CryptoSolarTech received more than 6500% of the planned minimum investment amount of 900 thousand euros. The bulk of the funds came to the company from residents of Singapore and Spain.
Recall that, according to experts of the analytical company Diar, CryptoSolarTech is among the most unsuccessful projects by the ratio of attracted funds and market capitalization as of fall 2018. With him also was the project Sirin Labs, PumaPay, Envion, Paragon, Bancor, Bankex, Kin, Olympus Labs and Leadcoin.