Cryptocurrency NewsBTC miner Rhodium faces lawsuit over an alleged $26M in unpaid fees

BTC miner Rhodium faces lawsuit over an alleged $26M in unpaid fees

In an effort to recover “more than $26 million” in allegedly unpaid mining facility fees, cryptocurrency mining company Riot Platforms, formerly known as Riot Blockchain, has filed a lawsuit against Texas-based Bitcoin miner Rhodium Enterprises.

Rhodium Enterprises allegedly broke its agreement with Riot by neglecting to pay hosting and service fees related to the usage of Whinstone’s Bitcoin mining facilities, a wholly owned subsidiary of Riot, according to the company’s Q1 2023 financial report, which was released on May 10 by Riot Platform.

On May 2, a petition was submitted in the District Court of Milam County in Texas against Rhodium Enterprises with the aim of recovering “more than $26 million” as well as compensation for the legal costs expended during the case.

Riot further requested that “certain hosting agreements” are terminated and proposed that it is exempt from repaying any outstanding power credits to Rhodium.


Join us

- Advertisement -