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Seeking Alpha
2023-02-21 12:06:33

Hut 8 Mining updates on counterclaim received for North Bay facility

Hut 8 Mining updates on counterclaim received for North Bay facility

Hut 8 Mining ( NASDAQ: HUT ) announced that it has received the Counterclaim of Validus Power and its subsidiary, Bay Power relating to the ongoing dispute with Validus for failure in meeting its contractual obligations under the power purchase agreement entered into with Hut 8 Mining. The counterclaim is also related to the associated lease between the company and Validus at Hut 8's mining facility in North Bay, Ontario. While Validus denies the allegations, it is also seeking monetary damages.

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