Compass Mining wins $1.5 million in lawsuit against hosting company

01/03 19:12

Mining services broker Compass Mining has won $1.5 million in a lawsuit against hosting provider Dynamics Mining, court documents dated 29 December 2022 show. Compass sued Dynamics in June 2022 for failure to provide services and for withholding customers' machines. The broker loaned Dynamics $1 million to build two bitcoin mining sites, in addition to paying $650,000 in escrow fees and deposits. dynamics claimed Compass failed to pay $861,000 in escrow and electricity fees, and that Compass attempted to break into Dynamics' mining facilities to steal mining equipment. Delaware Court of Chancery Judge J. Travis Laster ruled in favour of Compass and entered a default judgment against Dynamics for $1,474,400, plus post-judgment interest and costs.

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