Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Hut 8 Mining Provides Update on North Bay Facility

Published 03/28/2023, 06:31 AM
Updated 03/28/2023, 06:33 AM
Hut 8 Mining (HUT) Provides Update on North Bay Facility
HUT
-
Hut 8 Mining Corp.

(Nasdaq: HUT), announces that it has served and filed an amended statement of claim in the Ontario Superior Court of Justice (the "Amended Claim") against Validus Power Corp. and its subsidiary, Bay Power Corp. (collectively, "Validus"), a third-party supplier of energy to the Company's mining facility in North Bay, Ontario.

The Amended Claim relates to the Company's ongoing and previously disclosed dispute with Validus in respect of Validus' failure to meet its contractual obligations under the power purchase agreement it entered into with the Company. In addition to the claims set out in the original statement of claim, the Amended Claim, among other things, adds claims involving the associated lease between the Company and Validus at the Company's mining facility in North Bay, Ontario to include a claim for unlawful termination by Validus of the aforementioned lease.

The Company does not intend to make additional comments on this subject unless otherwise determined to be appropriate.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.