Pend Oreille PUD agrees to contract with Cascade Digital Mining, LLC kxly.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kxly.com Daily Mail and Mail on Sunday newspapers.
A California-based company is working to complete a bitcoin mining facility in an old newsprint plant. One local resident says it'll draw too much electricity and hire too few people.
How Comcast and other telecoms scuttle rural WA broadband efforts kxly.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kxly.com Daily Mail and Mail on Sunday newspapers.
Pend Oreille PUD officials raise concerns about Ponderay Newsprint sale By Thomas Clouse, The Spokesman-Review
Published: April 30, 2021, 8:05am
Share:
Before a federal judge could approve a proposed sale of the closed Ponderay Newsprint Mill to a California-based venture capital company, concerns were raised during a court hearing Thursday about potential plans to use power allotted to the mill for cryptocurrency mining.
U.S. Bankruptcy Judge Frederick Corbit conducted a hearing Thursday to accept the results of an April 23 auction in which three parties put forward $350,000 to bid to purchase the plant in Usk. Its previous owners filed for bankruptcy protection last year and the closure resulted in the layoffs of about 150 workers.
Hurting long before COVID-19, failing companies took stimulus money then closed anyway Josh Salman, USA TODAY
Replay Video UP NEXT
Stein Mart Inc. was desperate for shoppers long before COVID-19 forced closures at its discount department stores, scattered mostly throughout the Southeast.
During the past several years, the Florida retailer had hemorrhaged tens of millions of dollars, while searching for a corporate buyer. Like many struggling businesses, the company in June turned to the federal government’s Paycheck Protection Program, or PPP, as a possible savior. The $10-million loan didn’t last long.
Within two months, Stein Mart filed for Chapter 11 bankruptcy protection, citing more than $500 million in liabilities. The company closed all 280 stores and 9,000 workers lost their jobs.