London-based Faes & Company filed a lawsuit against cryptocurrency mining company Blockware Solutions LLC on Dec. 17, alleging that it misrepresented the performance capabilities of its miners and lacked access to adequate power to keep the machines running.
The plaintiffs allege losses of $250,000 and seek compensatory and punitive damages.
According to the complaint, the parties entered into contracts in October 2021 for Faes to purchase $525,000 worth of bitcoin miners and related hosting services.
As part of the agreement, Blockware would host Faes' miners at one of its server facilities, which it allegedly owns and operates for a monthly hosting fee and energy costs.
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