Former contractor Genesis Mining intends to recover from the company $ 7.8 million

The popular cloud mining service Genesis Mining refused to recognize the demand of the British software companyDigital Capital, whose representatives intend to recover from it 6 million pounds from the court (about $ 7.8 million). This is written by Law360.

Digital Capital sues High CourtLondon in January this year, accusing Genesis Mining Iceland of failing to pay £ 2.4 million in invoices for its development (about $ 3.1 million) for developing and maintaining credit card service software.

Genesis Mining planned to launch the platform in 2018, but in November refused to partnership and stopped paying the bills received.

According to representatives of Digital Capital,The Icelandic company pulled out of the deal due to financial difficulties during the bear market. Digital Capital in its lawsuit took into account not only unpaid amounts, but also future lost profits up to 2022.

A mining company with accusations against it,however, I do not agree, stating at the hearing on the eve that Digital Capital was not able to deliver the necessary software functionality to it on time.

Moreover, Genesis Mining put forward a countera lawsuit in which she demands to return to her the money that she paid for the unfinished software. In its defense, Digital Capital claims that the problem was the inability of the customer to provide the necessary technical documentation.

Recall that Genesis Mining has been operating in the market since 2013.of the year. One of its co-founders, Jacob Dolic, is also a co-founder of the mining company Layer1, which last year raised $ 50 million from a number of well-known venture capitalists, including PayPal co-founder Peter Thiel, and last month started mining bitcoin in the US state of Texas.