The ICO of the Spanish crypto mining startup CryptoSolarTech has failed and, for this reason, they have decided to return the funds collected.

To report it is the same CryptoSolarTech in a statement sent to their investors, which is also available on Twitter.

The main purpose of the startup was to build a crypto mining farm in southern Spain fully powered by solar energy but, due to the unobtained building permits, CryptoSolarTech decided to return all the funds raised during the ICO.

The funds were collected last summer in less than 2 months, mainly from investors located in Singapore and Spain itself. The startup also warned users not to buy any tokens because the refund of money will not apply to tokens purchased after February 19.