KnCMiner
KnCMiner was a Swedish bitcoin mining hardware manufacturer (Kennemar and Cole AB) that also operated a mining pool. The pool's coinbase signature included the string "KnCMiner".[1]
History
KnCMiner was founded in 2013 and sold ASIC mining products to consumers and larger operators. The company raised substantial venture funding, reported at about $32 million from investors including Accel and Creandum.[2]
The firm faced customer disputes over hardware deliveries, including litigation related to the Titan altcoin miner. In May 2016 a Swedish court ruling favored KnCMiner in a Titan-related case. Company leadership stated that bankruptcy was not driven by that litigation.[2]
In May 2016 the parent KnCGroup companies entered bankruptcy and receivership. CEO Sam Cole cited the approaching July 2016 block subsidy halving and expected mining costs above then-market bitcoin prices as the main reason for a pre-emptive filing. Receiver Nils åberg took control of KnCGroup subsidiaries focused on mining, software, and trading. XBT Provider, a partially related bitcoin ETN business, was reported as outside that receivership package.[2]