KnCMiner is about to complete the change of ownership, and the new owner intends to continue operating mining and achieve revival

The preliminary sale of bitcoin mining company KnCMiner has been approved and the company’s ownership will change, according to people familiar with the matter.

Court-appointed receiver Nils Åberg confirmed today that they have reached a sale agreement with a Swedish company called GoGreenLight, which was established to complete the acquisition and is a new sister company of Borderlight, an IT and communications company based in Uppsala, Sweden, founded in 2000.

Notably, Borderlight’s Sten Oscarsson said that once GoGreenLight assumes leadership, it could continue to operate KnC’s bitcoin mining pools and data centers.

Oscarson told CoinDesk:

“We will continue to operate the KnC mining business, to the extent that it is profitable, but in addition to the core business. We have a strategy to solve their current problems. The most likely scenario is that we will become the player.”

Oscarson said his company is aware of KnCMiner’s struggles in adapting to its model shift from focusing on direct-to-consumer sales to focusing on industry mining, but it could use talent acquisition as part of the deal.

He continued:

“It’s one of the few operations that has managed to compete successfully in the world market.”

Although GoGreenLight is still discussing whether to hire the KnC team, he added that the previous owners were not involved in the acquisition of GoGreenLight.

Previously, Åberg said in July that KnCMiner, which entered bankruptcy proceedings in May this year, was considering multiple buyers.

Åberg said:

“This is the best option for the estate and the creditors.”

Åberg further stated that there were 'additional considerations' that needed to be completed before the sale could be properly completed.