The venture-backed Bitcoin startup CoinTerra has filed for bankruptcy, making it the second major miner manufacturer to do so in recent months.
The Chapter 7 filing, which begins the process of liquidating company assets, was submitted on Saturday and comes just weeks after a Utah-based data center sued CoinTerra over a contract dispute.
In June 2014, CoinTerra was sued by a California man for failing to deliver his miner on time. According to court filings, CoinTerra has $10 million to $50 million in combined estimated assets and liabilities and around 400 creditors spread out worldwide from Canada to Russia to Hong Kong.
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