CryptoNewsBreaks – Bit Digital Inc. (NASDAQ: BTBT) Issues Update Regarding Hosting Partner’s Operations
Oct 11, 2022
Bit Digital (NASDAQ: BTBT), a digital asset mining company headquartered in New York, recently announced updates related to its hosting partner’s operations. According to the announcement, Bit Digital received a notice dated Oct. 4, 2022, from the City of Niagara Falls, New York, pertaining to a facility that is owned and operated by one of the company’s hosting partners, Blockfusion USA Inc. The notice orders the cease and desist from any cryptocurrency mining or related operations at the facility until such time as Blockfusion complies with Section 1303.2.8 of the City of Niagara Falls Zoning Ordinance and all other city ordinances and codes. Blockfusion has advised Bit Digital that the ordinance came into practical effect on Oct. 1, 2022, following the expiration of a related moratorium on Sept. 30, 2022, and that it is preparing applications for new permits, which may take several months to process, based on the ordinance’s new standards. Bit Digital management continues to monitor the situation and has further notified Blockfusion that it expects it to comply with directives of the notice. Approximately 17% of Bit Digital’s total active mining fleet is currently located at the Blockfusion facility in Niagara Falls. As of Oct. 6, 2022, the company had a total of 13,980 mining units actively hashing.
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About Bit Digital Inc.
Bit Digital is a bitcoin mining company headquartered in New York City with operations located in North America. For additional information, please contact [email protected] or visit the company’s website at www.Bit-Digital.com.
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