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Bitcoin

Block

Block Mining Inc. has filed a $6.4 million lawsuit against Hosting Source LLC, a bitcoin mining hosting vendor, for allegedly reducing the <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/">electricity</a> provided to Block Mining's mining computers, resulting in substantial financial losses. The court has ruled that Hosting Source cannot evade this lawsuit, allowing Block Mining to pursue its claims, according to <a href="https://ultramining.com/">Ultramining</a>. 
Block Mining's lawsuit centers around accusations that Hosting Source deliberately cut back on the power supplied to its mining rigs, significantly hampering their operations and profitability. This reduction in electricity led to a drop in mining efficiency and output, causing Block Mining to incur severe financial setbacks. 
Hosting Source attempted to have the lawsuit dismissed, arguing against the claims. However, the court ruled in favor of Block Mining, stating that Hosting Source must face the allegations in court. This ruling marks a critical step in holding Hosting Source accountable for its alleged actions and the resulting financial damages to Block Mining. 
Block Mining contends that the power reduction was a breach of their agreement with Hosting Source, which promised consistent and reliable electricity for the mining operations. The lawsuit highlights the critical role of stable power supply in the highly competitive bitcoin mining industry, where even minor disruptions can lead to significant financial repercussions.&nbsp;

Bitcoin Mining Hosting Vendor Faces $6.4M Lawsuit for Power Reduction

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