Canadian Bitcoin Miner Takes ‘High Price Claim’ to Court

Canada-based Bitcoin (BTC) miner Hut 8 has sued the electricity supplier for demanding a “higher price than envisaged in the agreement.”

Electricity supplier to mining facility in Hut 8, Ontario Validus PowerHe announced that he had filed a lawsuit against . Hut 8, in the lawsuit petition that is the subject of the news, regarding the power purchase agreement of electricity supplier Validus not fulfilling its contractual obligations suggested. The lawsuit was filed on January 26. Ontario Superior Court of JusticeIt was initiated with a petition submitted to

The dispute between the two companies has been ongoing since November, as Hut 8 alleged, because Validus failed to meet the terms of the deal. In line with these events, according to an update from the Hut 8 front, Validus, to the North Bay facility suspended energy shipments. Validus countered with its own notice of default, claiming that Hut 8 did not pay its electricity charges. Hut 8 denied this claim.

Hut 8 and Validus began working together in late 2021, and Validus initially moved to the North Bay facility. 35 megawatts (MW) provided power. This amount will increase over time and reach about the end of 2021. 100 MWrose to . Hut 8 is in agreement with the power purchase by sending a default notice to Validus on Nov. you did not reach the specified stagesI and the firm in the agreement for energy from Hut 8. paying a higher price than anticipated claimed to have requested.

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