Why this Montana crypto miner refuses to pay a $3.7M power bill
A Montana-based crypto miner has asked a court to dismiss a lawsuit over $3.7 million in unpaid electricity bills on the basis that it sold its assets in 2018. Project Spokane, a Montana-based mining firm that has been sued by tribal-owned electricity company Energy Keepers Inc. for $3.7 million in unpaid power bills, claims the debt is not its responsibility.On Dec. 14, Project Spokane requested that a Montana federal judge nix the lawsuit, asserting that Hyperblock LLC — a company that purchased most of the mining firm’s assets in 2018 — is liable for the debt. However, Hyperblock....
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The joint venture will see Marathon co-locate a bitcoin mining facility within Beowulf's Big Horn Data Hub at its 105-megawatt power station in Hardin, Montana.
The Bitcoin miner’s push to make its facilities run on clean energy reflects a push in the industry for all mining operations to do the same, or to at least use flexible facilities. Bitcoin miner Marathon Digital Holdings plans on taking a big step toward carbon neutrality with plans to transition its Montana mining facility to use sustainable power sources elsewhere.The Nevada-based company intends on relocating its coal-powered Hardin, Montana facility to a location that uses sustainable, non-carbon emitting energy sources. The move is aimed at helping the company reach its goal of full....
Marathon’s CEO Fred Thiel said that it will take time to get the facility back to full strength, but that the company could decide to speed up its move out of Hardin. Bitcoin mining company Marathon Digital Holdings has revealed that 75% of its mining capability has been out of commission since a severe storm hit Montana on June 11. Marathon finally issued a statement on its website on June 28 explaining that the storm struck across the town of Hardin, Montana on June 11, damaging the power generating facility that supplies Marathon’s local mining operations. According to the company,....
On-chain data shows the Bitcoin miner selling power is at its lowest for the year, something that could be favorable for the price of the crypto. Bitcoin Miner Selling Power Has Been Going Down In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the metric has observed surges in its value a few times this year, and each time the BTC price has gone down. The “miner selling power” is an indicator that’s defined as the ratio between the Bitcoin miner outflows and the total number of coins held by this cohort (30-day moving average, log-scaled) Here, the....