Bitcoin

Million

Bitcoin mining titan <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a> has sued JWKJ Technologies. The lawsuit claims JWKJ detained $15 million of <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a>’s <a href="https://ultramining.com/news/en/russias-bitcoin-gold-rush-mining-machine-influx-outpaces-rest-of-the-world/" rel="noopener noreferrer nofollow">bitcoin miners</a>. This dispute stems from a <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">hosting</a> agreement made in 2023, according to <a href="https://theminermag.com/news/2024-07-24/bitcoin-miner-bitmain-jwkj-suit/" rel="noopener noreferrer nofollow">TheMinerMag</a>.
Bitmain filed the lawsuit in Missouri on July 8. They allege JWKJ violated their contract by not maintaining 95% uptime for the miners. The <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/" rel="noopener noreferrer nofollow">hosting</a> agreement involved 6,000 units of Antminer S19XPs. These were colocated at JWKJ’s facility in St. Louis at a fee of $0.073 per kWh.&nbsp;&nbsp;
The partnership started deteriorating earlier this year. JWKJ allegedly failed to provide stable power and internet starting in February. This resulted in decreased mining efficiency. On June 16, JWKJ allegedly redirected the miners’ power to their pool, earning 5.59 bitcoin ($356,882). Bitmain demanded the return of the miners, but JWKJ refused.&nbsp;&nbsp;

Bitmain Sues JWKJ Technologies Over $15 Million Bitcoin Mining Dispute

Ultramining_Eng

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