The BTC (BTC) miner Hut 8 Mining Corporation, which is headquartered in Canada, strengthened its war with the power engineering dealer to compete for one of its mines and filed a lawsuit in the Australian People's Court.
On January 26, House 8 indicated that it had submitted a claim statement to the Ontario High Court for Valius Power, the energy dealer of the mining equipment of House 8 located in North Bay, Ontario.
Since the beginning of November, because Hut 8 claimed that Validus was unable to implement the "collateral obligation" of the electricity sales agreement, the two enterprises have been in continuous opposition.
In the new lawsuit, Hut 8 looked for "financial damage caused by dispute cases" and implemented some provisions according to the agreement signed by the two enterprises.
Hut 8 and Validus gradually cooperated at the end of 2021. Validus initially gave 35MW (MW) power projects to Beiwan, and by the end of 2021, this figure will increase to about 100MW.
On November 9, Hut 8 sent a notice of breaking the contract to Validus, saying that it failed to complete the milestone before the date required by the electricity sales agreement, and that the company required Hut 8 to pay the electricity and energy costs at a higher price than required by the agreement.
Later this month, the latest information of the 8th hut showed that Validus stopped transporting electric energy to the Beiwan processing plant. Validus countered with his notice of breaking the contract, claiming that the 8th house did not pay the electricity bill, which was denied by the 8th house.
Up to now, the on-site operation is still offline. House 8 indicates that it is exploring alternative options to mitigate the impact of disputes, including according to "organic and inorganic growth opportunities"
According to an investor report in December, before exiting, Beiwan website had 8800 data encryption mining service platforms, with a hash rate of 0.84 EB per second (EH/s), accounting for more than a quarter of its total production capacity.
Coin Telegram contacted Validus and Hut 8 for comment, but neither company immediately responded.
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