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Seeking Alpha 2022-10-07 21:17:48

Bit Digital gets cease-and-desist order for Blockfusion facility in Niagara Falls

Bit Digital (NASDAQ:BTBT) said Friday it received a cease-and-desist order from the City of Niagara Falls, New York for a facility owned by one of its hosting partners Blockfusion USA.The order calls for all cryptocurrency mining or related operations to be halted at the facility till Blockfusion complies with the city's zoning ordinance.Power was restored at this facility last month after an explosion in May.Blockfusion informed BTBT that it is preparing applications for new permits, which may take several months to process.Approx. 17% of BTBT's total active mining fleet is located at the Blockfusion facility.As of Oct. 6, BTBT had ~14K mining units actively hashing.

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