Welcome back to the Blockspace Newsletter!

Today, we cover the latest development in Swan Bitcoin’s (now two-front) legal battle over 2040 Energy, its bitcoin mining joint venture with Tether.

Tether sues Swan Bitcoin in ongoing bitcoin mining dispute

Stablecoin giant Tether is suing financial services firm Swan Bitcoin over a contract dispute related to the companies’ bitcoin mining joint venture, Blockspace has learned. 

“Tether, together with its co-Claimant, 2040 Energy Limited, has recently commenced proceedings in the High Court of England and Wales against Swan,” a Tether spokesperson wrote in an email to Blockspace.

“Throughout our relationship with Swan, Tether has consistently acted in good faith, supported mutual business objectives, and adhered to all relevant agreements,” Tether claimed. “Conversely, Swan has acted recklessly and their actions have resulted in significant breaches by them of the agreements between us. Consequently, we have been compelled to take necessary measures to protect our investment.”

When reached by Blockspace, Swan confirmed receipt of the lawsuit but declined further comment. “Swan will vigorously defend all its rights,” the spokesperson added.

The lawsuit escalates a legal struggle that began when Swan Bitcoin sued its former mining employees and contractors last September.

Read the full article here.

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