Canadian crypto mining company Hut 8 Mining has just filed a lawsuit in the Ontario Supreme Court against electricity provider Validus Power Corp. and its subsidiary Bay Power Corp.
According to the press release:
"Hut 8 and Validus have been in an ongoing dispute due to Validus’ failure to meet its contractual obligations in the power purchase agreement (‘PPA’) it entered into with the Company."
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The mining company is seeking monetary damages and enforcement of certain provisions under an agreement signed by the two companies.
The companies announced their partnership back in October 2021 and Validus agreed to supply 35 MW to Hut 8 in North Bay, Ontario.
However, the mining company said in November last year that its partner "failed to meet its contractual obligations" as scheduled. Validus also demanded payment at a higher rate than specified in the agreement.