This corporate banner adorns the reception area of HashFast’s downtown San Francisco offices.

Cyrus Farivar

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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