A cryptocurrency mine in Butte Montana fired up its servers today, resuming business without its former owner, an alleged fraudster.
After a legal appearance on the matter, part-owner Kevin Washington and operator Rick Tabish started up crypto mining business CryptoWatt once again, pulling the operation out of retirement, according to a Jan. 27 press release.
Authorities closed down CryptoWatt after jailing its owner, Matthew Goettsche, on a separate fraud account totaling $722 million, the Montana Standard reported in December 2019.
Although Goettsche owned more than 50% of CryptoWatt, he was not taken into custody for dealings related to that business. Goettsche, along with four individuals, ran a “cryptocurrency investment club” named BitClub Network, through which the group allegedly swindled millions.
Rick Tabish ran CryptoWatt under Goettsche’s ownership of the site, unaware of the owner’s fraudulent endeavors with the unconnected BitClub Network. Goettsche also carried significant debt owed to Tabish.
Regarding re-opening, Tabish told the Montana Standard:
"If the facility shuts down we all lose, [...] I want to protect the integrity of the facility, and the interests of our employees, the vendors, everybody who works there.
Tabish also noted his willingness to bring the matter to court if need be, pointing out that the operation would die if left shut down for too long, Montana Standard reporting included.
CryptoWatt started up again on Jan. 26, a separate article from the Montana Standard read, securing a lower power cost in the process.
Cointelegraph also recently reported on a surge of Bitcoin mining licenses in Iran.