Tuesday, August 16

Beijing Court Denies Monetary Compensation Demanded By Investor Who Sued Bitcoin Mining Company By CoinTelegraph

© Reuters. A Beijing court denies monetary compensation demanded by an investor who sued a Bitcoin mining company

A Beijing district court has rejected monetary compensation in a mining contract lawsuit by () against a blockchain company.

The Chaoyang District People’s Court on Wednesday found the Bitcoin mining contract between the plaintiff and the blockchain company “invalid,” the South China Morning Post reported on Dec. 16. The plaintiff in the case is reported to have paid 10 million yuan ($ 1.6 million) to the blockchain company for the deployment of mining machines, but suffered losses on his investment.

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The Beijing-based plaintiff claimed that he only earned 18.5 Bitcoin from his investment and demanded an additional 217.17 BTC as compensation for his losses. The court rejected the lawsuit and also ordered the Sichuan division of the National Development and Reform Commission to investigate any kind of illegal mining taking place in the province.

Read the full article on Cointelegraph

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