• US Bitcoin Corp has reached a tentative agreement with the City of Niagara Falls to restart operations.
• The miner will have to comply with strict noise reduction standards and permit applications.
• They would also have to pay an upfront $50,000 fee, reimburse the city for $180,000 in attorney fees and costs, and pay a $100,000 compliance fee within 30 days.
US Bitcoin Corp Reaching Agreement With Niagara Falls
US Bitcoin Corp has reached a tentative agreement with the City of Niagara Falls to restart operations after being halted by a state supreme court judge in March. In order to begin operations again, the company must comply with certain noise reduction standards and permit applications as listed in the agreed-upon terms.
Noise Reduction Standards
The agreement requires US Bitcoin to limit noise production from their facility no more than 65 decibels as well as submit completed applications for all permits needed under the city’s new “high energy usage overlay district”.
Fee Requirements
US Bitcoin must pay an upfront non-refundable fee of $50,000 upon execution of the agreement, as well as reimburse the city for $180,000 in attorney fees and costs tied to its enforcement action against them. Additionally, they must pay a $100,000 compliance fee within 30 days of the effective date.
City Council Approval
The Niagara Falls City Council still needs to approve this agreement before US Bitcoin can begin operations again.
Conclusion
In conclusion, US Bitcoin Corp has reached a tentative agreement with the City of Niagara Falls that requires them to comply with strict measures such as limiting noise production and paying certain fees in order for them to resume operations at their mining facility. However final approval is still required by the Niagara Falls City Council before any work can be done on that front.