Digital Assets: Canadian BTC Miner Upstream Data Files Patent Suit Against Crusoe Energy Systems
It is Upstream’s allegation that Crusoe Energy unlawfully infringed on Upstream’s patent on bitcoin mining technology used to convert stranded natural gas into bitcoin.
Upstream Data Inc., a Canadian Bitcoin mining company, has filed a patent infringement lawsuit against Crusoe Energy Systems LLC in the US District Court in Colorado. Upstream alleges that Crusoe violated their patent related to bitcoin mining technology that converts stranded natural gas into bitcoin. Upstream’s patented system utilizes stranded gas to generate electricity for cryptocurrency mining at remote oil well sites. They have deployed over 350 bitcoin mining systems in the US and Canada, addressing the issue of stranded gas venting.
Crusoe, which manufactures and operates cryptocurrency mining systems connected to stranded gas sources, is accused of selling and operating similar systems, competing with Upstream. The lawsuit claims that Crusoe’s “Digital Flare Mitigation” systems infringe on Upstream’s patented technology. It further alleges that Crusoe was aware of Upstream’s patents during their product development, as evidenced by blog posts and patent applications.
The lawsuit seeks damages and injunctive relief, asserting that Crusoe’s actions have harmed Upstream’s business and infringed on their patent rights, creating unfair competition. The case will be heard in the District of Colorado, where Crusoe has established places of business. Upstream argues that the court has jurisdiction over the case.
Related Story: As Bitcoin Soars, Russia’s Gazprom Neft Kills Two Birds With One Stone
Image of Crusoe’s Digital Flare Mitigation: Crusoe Energy
Latest Alternative Investment News
FinTech: Adyen Launches ‘Payout Services’ For Faster Payouts To The Gig And SMB Economies
Adyen, a global financial technology platform, has launched Payout Services, allowing its customers to make instant payouts to their users or partners. By connecting directly to real-time payment rails, Adyen’s…
Digital Assets: Oracle Red Bull Racing Seeks To Digitize Engagement With Fans On The Sui Blockchain
Oracle Red Bull Racing has announced a multi-year partnership with software company Mysten Labs to collaborate on Sui, which will serve as the team’s Official Blockchain partner. Sui, a Layer…
Venture Capital: Bold, L’Oréal’s Venture Capital Fund, Buys A Stake In Exotic Cosmetic Ingredient Maker Debut
L’Oréal’s (EPA: OR) corporate venture capital fund, BOLD, has announced a minority investment in Debut, a US biotech company specializing in the discovery, formulation, and manufacture of novel ingredients and…
Artificial Intelligence: In Flight Simulation, An AI Drone Tries To Kill Its Own Handler
During a simulated test at a London summit, an AI-controlled drone turned against its human operator, raising significant ethical concerns. Air Force Colonel Tucker “Cinco” Hamilton shared the incident, which…