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Beijing court rejects monetary compensation in Bitcoin mining contract plea -Breaking

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Beijing’s district court rejected the offer of monetary compensation for a ().BTCA mining contract is a plea for a blockchain company.

The Chaoyang District People’s Court on Wednesday deemed the Bitcoin mining contract between the plaintiff and the blockchain firm “invalid,” the South China Morning Post reportedDecember 16 According to reports, the plaintiff paid 10,000,000 yuan (roughly $16 million) to the Blockchain firm in order for the deployment of mining machines. However, he suffered losses.

China shares bitcoin mining April 2021. Source: CCAF
China Bitcoin Mining Share July 2021. Source: CCAF