Get the latest tech news

In the Kentucky Mountains, a Bitcoin Mining Dream Turned Into a Nightmare


When bitcoin was on a hot streak, owners of small industrial facilities in Kentucky struck up crypto mining partnerships with Chinese companies. Then things fell apart.

The cases differ from the Mohawk situation, says attorney Anna Whites, founder of the firm, but share a common thread: “We saw a pattern that [companies with ties to China] would ship in machines with uncertain provenance, mine very heavily for three months, then run without paying the bill,” she claims. In the still-unresolved spat with VCV, Biofuel received permission from the Martin County Circuit Court in Kentucky to sell off the mining equipment, claims Whites, to recoup a portion of the funds it is owed (she has not confirmed the amount), but she alleges that no damages have yet been awarded. “You can pick an arbitral seat in neither country as a means of creating a neutral playing field.” A parallel federal court hearing is set for December to consider whether an injunction should be imposed on Mohawk, preventing it from selling off the remaining HBT equipment in its possession.

Get the Android app

Or read this on Wired

Read more on:

Photo of stuff

stuff

Photo of nightmares

nightmares

Photo of kentucky mountains

kentucky mountains

Related news:

News photo

Solar Sails and Comet Tails: How Sunlight Pushes Stuff Around

News photo

Can Math Help AI Chatbots Stop Making Stuff Up?

News photo

A terrible way to jump into colocating your own stuff