Giga Watt is a startup whose aim to launch a cryptocurrency mining facility. The company describes itself as “the world’s first full-service mining solution provider” and promises “turnkey mining services”. A group of investors have filed a lawsuit over project delays that they claim are costing them serious money. This is reported by the News Bitcoin Com.
The plaintiffs stated that ICO raised around $20 million in cryptocurrency last summer. That cryptocurrency is now worth five times as much, but investors haven't received nothing for it: no crypto, no Giga Watt tokens, and none of the mining equipment that was meant to be supplied.
In a court filing, the plaintiffs state their “fear that they might never be issued their tokens or see their mining machines activated, and are losing valuable time and money as defendants indefinitely delay the further development of the Giga Watt Project”.
Giga Watt representatives have overtly and unmistakably stated to investors that between the time of the ICO and the date on which each investor would be issued his/her/its Giga Watt tokens, the value/price of each Giga Watt token was anticipated to increase significantly.
The Giga Watt filing in the U.S. District Court in Eastern Washington
Giga Watt is ran by Dave Carlson, who already has failed mining project. In 2014, his Megabigpower mining project fell apart after his supposed partners failed to purchase the equipment they had promised.