BTC miner Rhodium faces lawsuit over an alleged $26M in unpaid fees: Report
Crypto mining firm Riot Platforms seeks to terminate “certain hosting agreements” with Rhodium and requests exemption from any owed power credits to the counterparty. Crypto mining firm Riot Platforms – formerly Riot Blockchain – is seeking to recover “more than $26 million” in alleged unpaid fees from Texas-based Bitcoin (BTC) miner , Rhodian Enterprises, according to its Q1 2023 report. Published on May 10, Riot's Q1 2023 financial report stated that Whinstone – a wholly owned subsidiary of Riot – has filed a petition against Rhodium Enterprises on May 3, alleging a breach of contract for failing to pay “certain hosting and service fees under agreements." Riot seeks to recover “more than $26 million,” plus legal fees and other expenses that are incurred during the legal proceedings, as outlined in the report. It was further requested that “certain hosting agreements” with Rhodium are terminated and "no power credits are owed to Rhodium.” Extract of Riot Platforms qua...