Riot Platforms also seeks to terminate 'certain hosting agreements' with Rhodium after it allegedly failed to pay 'more than $26 million' in hosting and service fees.
Crypto mining firm Riot Platforms – formerly Riot Blockchain – is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin miner, Rhodian Enterprises, according to its Q1 2023 report.stated that Whinstone – a wholly owned subsidiary of Riot – filed a petition on May 3 in the 20th District Court of Milam County, Texas. It alleged that Rhodium Enterprises breached its contract by failing to pay “certain hosting and service fees under agreements.
“Because this litigation is still at this early stage, we cannot reasonably estimate the likelihood of an unfavorable outcome or the magnitude of such an outcome, if any.”The report also emphasized Riot’s growth in mining operations, stating that it had mined “2,115 Bitcoins” , representing an increase of 50.5% from the number of Bitcoins mined during the first quarter of 2022.have any affiliations with the banks that have experienced collapses in recent times.
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Bitcoin Miner Riot Sues Peer Rhodium Enterprises for Alleged $26M in Unpaid FeesBitcoin miner RiotPlatforms is suing rhodium_inc for $26 million in alleged unpaid fees, as well as a disagreement over demand response related power credits. egreechee reports
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