This corporate banner adorns the reception area of HashFast’s downtown San Francisco offices.
Just days after HashFast’s CEO told Ars that his company was “as poor as church mice,” a group of five customers has filed an involuntary bankruptcy petition against the Bitcoin miner manufacturer-turned-chipmaker. It’s the first step in an attempt to recover over $330,000 in payments that were apparently never fulfilled.
The rarer Chapter 7 filing governs liquidation of corporate assets rather than a reorganization (Chapter 11). The petition was filed Tuesday in United States Bankruptcy Court in the Northern District of California, located in San Francisco.
“There has been a motion filed to put us into involuntary bankruptcy,” Amy Abascal, the company’s director of marketing, told Ars by e-mail. “We are evaluating our options and preparing our response. We’ll provide information as it’s available.”
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