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Spanish Mining Startup to Return $68 Million Raised During ICO

Published 20/02/2019, 19:39
Spanish Mining Startup to Return $68 Million Raised During ICO
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Spanish cryptocurrency mining startup CryptoSolarTech will return $68 million raised during its initial coin offering (ICO). A screenshot of an official letter sent to investors was posted on Twitter Wednesday, Feb. 20 by Spanish IT lawyer Sergio Carrasco.

CryptoSolarTech apparently aimed to build a crypto mining facility powered by solar energy in Southern (NYSE:SO) Spain, but failed to get a building permit. Citing reasons beyond their control, the founders of the project promised to return funds within 60 days. The startup also claimed that it is not responsible for any of the tokens purchased after Feb. 19.

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