Spanish mining startup will return to ICO-investors $ 68 million

The CryptoSolarTech mining startup will return $ 68 million worth of funds raised during the ICO to investors, Cointelegraph reports.

CryptoSolarTech planned to build a mining farm in southern Spain. The key feature of the project was to be solar energy used to power the equipment.

However, the project rejected the local authorities. The startup has committed itself to return the funds to investors within 60 days. At the same time, the company stressed that they would not take responsibility for Cryptosolartech ( CST ) tokens acquired after February 19.

The initial offer of coins for the CryptoSolarTech project took place in June 2018. The project raised $ 68 million in less than two months. It is noteworthy that initially the startup planned to collect at least 900 thousand euros. The bulk of the funds came from ICO-investors from Spain and Singapore.

Soon, the CST token lost most of its value. Only in the last 24 hours, amid negative news, has the coin depreciated by 85%.

Recall, recently the US Securities and Exchange Commission forced the ICO start-up Gladius to register tokens and return $ 12.7 million to investors .

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