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Post: Legal Battle: Gryphon Digital Mining vs. Sphere 3D Over $10 Million

Legal Battle: Gryphon Digital Mining vs. Sphere 3D Over $10 Million

Key Points:

  • Gryphon Digital Mining is taking legal action to block Sphere 3D from using $10 million from a recent settlement.
  • Gryphon filed a pre-motion letter with the U.S. District Court seeking permission to file a motion for prejudgment attachment to secure the funds.
  • The legal action is a result of Sphere 3D allegedly breaching a contract with Gryphon by entering into agreements with other providers.

Legal Action by Gryphon Digital Mining:

Gryphon Digital Mining is actively pursuing legal action against Sphere 3D to prevent them from utilizing $10 million from a recent settlement. They aim to secure these funds to cover potential damages resulting from Sphere’s alleged contract breach.

Request for Prejudgment Attachment:

Gryphon filed a pre-motion letter with the U.S. District Court, seeking approval to file a motion for prejudgment attachment. This legal maneuver is intended to ensure that the $10 million received by Sphere from Core Scientific’s settlement is available to address any judgment that Gryphon may receive.

Alleged Breach of Contract:

The legal dispute stems from Sphere 3D’s purported breach of contract with Gryphon Digital Mining. Sphere is accused of violating an exclusivity clause by entering into hosting agreements with other providers, contrary to their agreement with Gryphon.

Hot Take

Legal battles in the cryptocurrency and blockchain industry are not uncommon, especially when significant sums of money are involved. Gryphon’s proactive approach to securing potential damages highlights the importance of upholding contractual agreements in this rapidly evolving sector.

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