Statar Mining acquired Lake Prime

Lake Prime was developing the use of excess green energy to power computers. The work was done in the area of computing applications and cryptocurrency mining. 

According to Lake Prime, it owned data centers in the United Kingdom, Canada, and the United States. However, the BTC miner was one of the latest victims of the crypto-winter. Interpath Advisory appointed administrators who noted extremely negative trends at the company. 

Recently purchased LP equipment has sagged in value, as has the value of the cryptocurrency itself. Many of the projects where investments were made did not yield results and only caused a liquidity crisis. As a result, a solution that would lead to the restoration of solvency could not be found. 

As a result of the administrators, Lake Prime was sold to Statar Mining Limited. The cost of the sale was not announced, however, it is known that the buyer took in 16 employees as part of the transaction.

The administrators also noted that the decision was extremely successful. 

The deal will save jobs and allow the business to continue to operate further. Lake Prime was unable to raise funding, as were many other companies that were hit hard during the crypto-winter. 

 There was no comment from the deal participants themselves.