Bison Blockchain Asks Court to Freeze Funds from MineOne and Terra Crypto Properties Sale [BlockTribune]
[via BlockTribune]
On Wednesday, May 15, 2024, bitcoin mining company Bison Blockchain filed an emergency motion in the United States District Court for the District of Wyoming.
Bison Blockchain has accused other Bitcoin mining firms MineOne Wyoming Data Center and Terra Crypto of breach of contract. Bison Blockchain claims the companies owe over $38 million from two agreements related to operating Bitcoin mining sites.
The emergency motion seeks a protective order over the sale of the Bitcoin mining properties owned by MineOne and Terra Crypto. Recently, the companies entered an agreement to sell their North Range and Campstool sites to CleanSpark for between $18.7-32.5 million.
However, Bison Blockchain is worried that once MineOne and Terra Crypto receive the sale funds, they will remove the money from the court’s jurisdiction. Given a recent presidential order requiring the sellers to leave the Wyoming properties, Bison Blockchain argues MineOne and Terra Crypto have no other assets and would likely abscond with the funds.