Share this article
The Swedish Telecom That Bought KnC is Now Mining Bitcoin
Months after acquiring bankrupt bitcoin mining firm KnCMiner, a Sweden-based company has started to mine.
By Stan Higgins
Updated Sep 11, 2021, 1:04 p.m. Published Feb 8, 2017, 6:37 p.m.
Months after acquiring bankrupt bitcoin mining firm KnCMiner, a Sweden-based company has started to mine.
GoGreenLight moved to buy out the miner last summer, a move that followed KnC’s bankruptcy declaration in May. GoGreenLight is a sister company of Borderlight, an IT and telecom services provider based in Uppsala.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The bankruptcy bid preceded a drop in the amount of bitcoins created with each new transaction block, from 25 BTC to 12.5 BTC. Bitcoin mining is an energy-intensive, competitive process by which new transactions are added to the blockchain. That network change took place last July.
According to statements from the company and network data, GoGreenLight has begun activating the KnC hardware it obtained.
Borderlight’s Sten Oscarsson said that the firm was in the midst of restarting the KnC hardware, with 25 people involved in the process. He added that the mine is being enhanced with improved tech for cooling and maintenance.
Oscarsson went on to say:
“[The] next phase with production of new equipment and new designs will start shortly.”
The firm has mined six blocks since 2nd February, according to data from wallet provider Blockchain, with the most recent being struck on 7th February.
GoGreenLight accounted for 0.6% of the total bitcoin network hashrate over the past 24 hours, the data further shows.
Image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
What to know:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
