Canada-based Bitcoin (BTC) miner Hut 8 Mining Company has ramped up its ongoing struggle with its energy provider for one among its mining websites, submitting a lawsuit in a Canadian court docket.
Hut 8 said on Jan. 26 it filed a Assertion of Declare within the Superior Courtroom of Justice of Ontario towards Validus Energy, an power provider for a Hut 8 mining facility in North Bay, Ontario.
The corporations have been in an ongoing dispute since early November 2022 as a result of what Hut 8 alleges is a failure by Validus to “meet its contractual obligations” for the facility buy settlement (PPA).
In its new lawsuit, Hut 8 is searching for “financial damages incurred on account of the dispute” and enforcement of sure provisions as per the settlement signed by the 2 firms.
Hut 8 and Validus started working collectively in late 2021 with Validus initially offering 35 megawatts (MW) of energy to North Bay, however was slated to supply round 100 MW by the top of 2021.
On Nov. 9, 2022, Hut 8 issued a discover of default to Validus alleging it failed to realize milestones by the dates outlined within the PPA and claimed the agency demanded Hut 8 pay for power that was at a better value than that beneath the phrases of the settlement.
An update from Hut 8 later that month revealed Validus suspended the supply of power to its North Bay website. Validus fired again with its personal default discover alleging Hut 8 did not pay for its energy prices — a declare Hut 8 denies.
We’re in North Bay right now touring @Hut8Mining’s third mining website, with @PowerValidus #btc #canada pic.twitter.com/3BWNQm0Sft
— Hut 8 (@Hut8Mining) October 25, 2021
To this date, operations on the website stay suspended. Hut 8 stated it’s exploring alternate options to mitigate the impression of the dispute together with by “natural and inorganic progress alternatives.”
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Earlier than it was taken offline, the North Bay website had 8,800 crypto mining rigs and a hash price capability of 0.84 exahashes per second (EH/s), accounting for over one-fourth of its complete manufacturing capability, in response to a December 2022 investor deck.
Cointelegraph contacted Validus and Hut 8 for remark however didn’t obtain an instantaneous response from both agency.
