Digital Capital aims to recover $7.8 M from Genesis Mining

by in Blockchain News

Genesis mining

Genesis Mining, a successful cloud mining service, refused to accept the demand of the British software company Digital Capital, whose representatives intend to recover from it 6 million pounds (about $ 7.8 million) from the court.

Digital Capital filed a lawsuit in the High Court of London in January this year, accusing Genesis Mining Iceland of not paying £ 2.4 million in invoices (about $ 3.1 million) for software development and maintenance for servicing credit cards.

Genesis Mining planned to launch the platform in 2018, but in November refused to partnership and stopped paying the bills received.

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According to representatives of Digital Capital, the Icelandic company withdrew from the transaction due to financial difficulties during the bear market. In its lawsuit, Digital Capital took into account not only unpaid amounts but also future lost profits up to 2022.

The mining company, however, does not agree with the accusations, saying during the hearing on the eve of it that Digital Capital was not able to deliver the necessary software to it on time.

Moreover, Genesis Mining filed a counterclaim in which it demands to return to her the money that she paid for the unfinished software. In its defense, Digital Capital claims that the problem was the inability of the customer to provide the necessary professional documentation.