US Bitcoin Corp must reach a temporary settlement with Niagara Falls to resume mining operations and comply with noise reduction, permits and fees.
US Bitcoin Corp, a Bitcoin mining company that operates mining facilities in the City of Niagara Falls, has reached a tentative agreement with the City of Niagara Falls to resume operations. report.
The miners, who recently agreed to merge with Hut 8 and bring the two companies under the Hut 8 Corp. umbrella, have taken three steps to start operations that were halted by a state Supreme Court judge in March. Strict measures must be followed. A judge found that the facility operator disregarded another judge’s court order.
Under the agreement, U.S. Bitcoin will have to comply with a set of standards for noise reduction and permit applications. These include limiting noise emissions from facilities to no more than 65 decibels and submitting applications for all necessary permits to comply with the city’s new High Energy Use Overlay District.
They also have to compensate the city in several ways, including paying an upfront, non-refundable $50,000 fee upon execution of the contract. must pay the City a compliance fee of $100,000 within 30 days of the effective date of the agreement.
The company must also reimburse the city of $180,000 in attorneys’ fees and costs related to enforcement actions against the company, as set forth in the contract.
The Niagara Falls City Council still has to approve the deal.