"Months after acquiring bankrupt bitcoin mining firm KnCMiner, a Sweden-based company has started to mine.

GoGreenLight moved to buy out the miner last summer, a move that followed KnC’s bankruptcy declaration in May. GoGreenLight is a sister company of Borderlight, an IT and telecom services provider based in Uppsala.

The bankruptcy bid preceded a drop in the amount of bitcoins created with each new transaction block, from 25 BTC to 12.5 BTC. Bitcoin mining is an energy-intensive, competitive process by which new transactions are added to the blockchain. That network change took place last July.

Borderlight’s Sten Oscarsson said that the firm was in the midst of restarting the KnC hardware, with 25 people involved in the process. He added that the mine is being enhanced with improved tech for cooling and maintenance."

Source: coindesk.com

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