DeFI News by Thebittimes.Com

The lawsuit escalates a months-long dispute between the crypto miner and one of its energy suppliers in Canada. Canada-based Bitcoin (BTC) miner Hut 8 Mining Corporation has ramped up its ongoing fight with its power supplier for one of its mining sites, filing a lawsuit in a Canadian court. Hut 8 said on Jan. 26 it filed a Statement of Claim in the Superior Court of Justice of Ontario against Validus Power, an energy supplier for a Hut 8 mining facility in North Bay, Ontario. The firms have been in an ongoing dispute since early November 2022 due to what Hut 8 alleges is a failure by Validus to “meet its contractual obligations” for the power purchase agreement (PPA). In its new lawsuit, Hut 8 is seeking “monetary damages incurred as a result of the dispute” and enforcement of certain provisions as per the agreement signed by the two companies. Hut 8 and Validus started working together in late 2021 with Validus initially providing 35 megawatts (MW) of power to North Bay, but was sl...

Bitfarms has an initial period of 180 calendar days to have its shares trading above $1 for at least 10 days before June 12, 2023. The Canadian Bitcoin (BTC) mining firm Bitfarms is facing compliance challenges over its listing on Nasdaq due to the ongoing cryptocurrency winter. Bitfarms received a warning notification from Nasdaq on Dec. 13 because the company’s share price has stayed below $1 for 30 consecutive working days. Announcing the news on Dec. 14, Bitfarms said that it has an initial period of 180 calendar days to regain compliance with the requirements from Nasdaq. In order to regain compliance, Bitfarms’ shares should close at $1 per share for a minimum period of 10 consecutive days at any time before June 12, 2023. In such an event the Nasdaq staff will provide a written notification to Bitfarms that it has achieved compliance, the announcement notes. The 180-day period is not the final limit, however. Bitfarms noted that it will have a chance to extend the compliance pe...