the Spanish Start-up crypto solar tech had planned to Commend the establishment of a crypto-Mining complex, which covers their power solely by solar energy. The last summer launched the ICO had introduced for 68 million US dollars. Now the project fails due to a lack of building permit. The investors crypto solar tech promises a repayment of your funds.

Tanja Giese
21. February 2019BTC$3.920,06 -0.95%part Facebook Twitter LinkedIn get xing mail

ICOs promise, especially for Start-ups, rapidly the necessary financial resources. A number of reports on Exit Scams, where the person with the collected money disappeared, all the mountains, have given the ICO-Boom of last year with a bitter aftertaste. But unforeseen circumstances can lead to that the promise behind the ICO is not met. How can you as a conscientious company, then fair with the investors deal, the Spanish Start-up crypto solar tech.

The successful ICO to the loser of the year

In June 2018, the Spanish Start-up crypto solar tech started an ICO, in order to make a solar powered Mining Farm build. The idea of mines with environmental awareness of Bitcoin & co., met in the Background of the critical voices concerning the high energy demand of Mining-farms, apparently, to a lot of open ears. Although the target sum amounted to only 900,000 euros, was able to US the Start-up, a total of 68 million-Dollar collection, in less than two months.

However, the output Token CST had to lose until the end of the year, much of its value. In the ranking of the list of the biggest losers of the year, established by the analysis company, Diar, reached crypto solar tech is in seventh place. Nevertheless, the Start-up, to win the Chinese energy company Risen Energy as a Partner. Risen Energy has agreed to support the development of the 300-Megawatt photovoltaic plant and to assume responsibility for the electricity project. BTC-ECHO reported on this cooperation. There have also been plans to deepen the cooperation through an expansion of the areas of research and development of Blockchain and IoT technologies.

Read also: New from QuadrigaCX: loss of Private Keys only faked?

However, as the company on 20. February announced via Twitter, can’t it implement the solar powered Mining Farm. The Spanish lawyer Sergio Carrasco had posted a Screenshot of an official letter to the investors:

Carrasco said:

oops, it seems that crypto solar tech to stop … #surprise #NOT, at Least they say they will give back to what had brought the ICO.

Without approval no construction

reason of failure: There is no building permit. Why crypto solar tech is not allowed to build Mining Farm, is not yet known. Investors who take on this job message on the inside of your money goodbye, you can calm crypto solar tech. All the investors should get their money back. Thus, the company avoids, in spite of the failure of the project to be in the Exit-Scam-drawer inserted. Although the procedure of the Start-ups is commendable, because it allows its investors not to stand in the rain. But one would think that elemental conditions for the construction of a Mining-Farm – cleared as a building permit – final, before the ICO starts.

Fortunately, all the Mining projects that wish to confront with eco-friendly energy to the criticism of the environmentalists are not doomed to Failure. Just last month, Bitfury announced a mobile data center in Paraguay to build, which receive their energy from hydropower.

Read also: Norway finished Mining subsidies

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