Spanish Mining Startup Will Return $68 Million To ICO Investors
Mining startup CryptoSolarTech will return to investors the funds raised during the ICO in the amount of $ 68 million.
CryptoSolarTech planned to build a mining farm in the South of Spain. The key feature of the project was to be solar energy used to power the equipment.
However, the project was rejected by local authorities. The startup has committed to return the funds to investors within 60 days. At the same time, the company stressed that they will not take responsibility for cryptosolartech (CST) tokens purchased after February 19.
The ICO CryptoSolarTech took place in June 2018. The project raised $ 68 million in less than two months. It is noteworthy that initially the startup planned to collect at least 900 thousand Euros. The main amount of funds came from ICO investors from Spain and Singapore.
Recall that recently SEC made ICO-startup Gladius register tokens and return $12.7 million to investors.