Crypto miner US Bitcoin Corp has come to a tentative agreement with the City of Niagara Falls that will allow it to reopen its mining operation in the city, according to a local news report. A state supreme court judge ordered its plant closed in early March. The settlement still requires the approval of the city council.

State Supreme Court Justice Edward Pace ordered the plant’s closing after “weeks of contentious negotiations” between the city and US Bitcoin on the wording of the order. The order enforced a ruling from another state supreme court judge to cease operations while the city sought an injunction to enforce new city ordinances affecting the plant.

Related: MIT Space Force major proposes Bitcoin mining as cybersecurity tool

Pace found US Bitcoin in contempt of court for ignoring the initial order and imposed fines retroactively to Dec. 9, when it was initially ordered to close. Those fines will total over $1 million, according to the report.

JUST IN: U.S. Bitcoin Corp. Expected to Settle With City to Resume Mining in Niagara Falls. pic.twitter.com/AGvfJiG3gX

— Crypto Avanza (@AvanzaCrypto) April 5, 2023

Now the company will have to pay $150,000 in fees to the city, $180,000 to reimburse legal costs and new application fees. In addition, US Bitcoin will have to take measures to reduce noise at the plant, including building a noise-dampening wall and submitting to third-party monitoring.

US Bitcoin Go to Source to See Full Article
Author: Derek Andersen

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details