US Bitcoin Corp tentatively set up with Niagara Falls to restart mining operations, must comply with noise abatement, permits and fees.
US Bitcoin Corp, a bitcoin mining company that has been operating a mining facility in the city of Niagara Falls, has reached a tentative agreement with the city to restart operations in accordance with a report.
The miner, which recently agreed to a merger with Hut 8, bringing both companies under the umbrella of Hut 8 Corp., will have to comply with strict measures to start operations that were halted in March by a state supreme court judge. The judge found that the operators of the facility were in contempt of another judge’s injunction.
Under the agreement, US Bitcoin would be required to comply with a series of standards for noise reduction and permit applications. These include limiting the facility’s noise output to no more than 65 decibels and submitting full applications for all permits necessary to comply with the city’s new “high energy use overlay district,” the report details.
They would also have to compensate the city in various ways, including paying a $50,000 non-refundable fee upfront at the time of execution of the agreement. In addition to the $50,000 initial fee, US Bitcoin will be required to pay the city a $100,000 compliance fee within 30 days of the effective date of the agreement.
The company would also be required to reimburse the city for $180,000 in attorneys’ fees and costs related to its enforcement action against the company, as outlined in the agreement.
The Niagara Falls City Council has yet to approve the deal.
