After acquiring KnCMiner, the Swedish company joins the Bitcoin mining industry

After acquiring bankrupt Bitcoin mining company KnCMiner, Swedish company GoGreenLight has officially started its mining journey.

KnC announced bankruptcy in May last year, after which GoGreenLight took over the company. It is reported that GoGreenLight is a sister company of Borderlight, an IT and telecommunications service provider based in Uppsala, Sweden.

GoGreenLight has begun activating the hardware it received from KnC, according to a statement from the company.

Borderlight’s Sten Oscarsson said his company is in the process of restarting KnC’s hardware, with 25 people currently involved, adding that the company is also improving the mine’s cooling and maintenance techniques.

Oscarsson went on to say:

“In the next phase, we will soon start production work on new equipment and new designs.”

According to data provider Blockchain.info, GoGreenLight has mined six bitcoin blocks since Feb. 2, with the most recent block occurring on Feb. 7.

Currently, GoGreenLight controls 0.6% of the computing power of the entire network.