According to a local news report, US Bitcoin Corp has come to a preliminary agreement with the City of Niagara Falls, which would enable the company to resume operations at its mining plant in the city. The miner was ordered to close its plant by a state supreme court judge in March after “contentious negotiations” with the city on the enforcement of new ordinances.
US Bitcoin was found in contempt of court and will be fined over $1 million retroactively to December 9, 2022. The settlement requires the approval of the city council and will require US Bitcoin to pay $150,000 in fees to the city, $180,000 to reimburse legal costs and new application fees, as well as taking noise reduction measures.
