Key Points:
- Upstream Data, a Canadian Bitcoin mining company, has launched a patent infringement case against Crusoe Energy in the United States District Court.
- According to the lawsuit, Crusoe’s technology infringes on Upstream Data creator Stephen Barbour’s patent, and Crusoe created that technology with full knowledge of this.
- The Canadian miner is suing for monetary damages and seeking the court to force Crusoe to cease allegedly infringing on his intellectual property.
According to a court filing, Upstream Data, a Canadian-based natural gas Bitcoin (BTC) miner, has sued competitor Crusoe Energy for patent infringement.
The complaint claims that Crusoe violated Upstream Data creator Stephen Barbour’s patent on Bitcoin mining technology, which is designed to convert stranded natural gas into Bitcoin. The Canadian miner is suing for monetary damages and seeking the court to force Crusoe to cease allegedly infringing on his intellectual property.
According to the lawsuit, the Canadian company has a patent for a method that uses stranded gas to create energy for cryptocurrency mining at distant oil well locations. The business has implemented over 350 Bitcoin mining equipment throughout the United States and Canada, addressing the problem of stranded gas venting and flaring, according to the filing.
Crusoe is aware of the allegation and intends to defend itself, according to a company spokesperson vigorously. The company remains confident in its intellectual property, which comprises five granted patents.
Crusoe, which manufactures and manages Bitcoin mining equipment linked to stranded natural gas sources, has been accused of competing with Upstream by selling and running systems that are comparable. According to the lawsuit, Crusoe’s “Digital Flare Mitigation” technologies violate Upstream’s patented technology.
The complaint also claims that Crusoe was aware of Upstream’s patented technology while developing its own goods. The complaint outlines occasions in which Crusoe named Upstream as a rival in blog postings and patent applications.
According to the complaint, Barbour registered for a natural gas Bitcoin mining patent in February 2017, the same year he formed his firm. On February 7, 2023, Barbour’s patent was approved.
Upstream claims that Crusoe’s activities have harmed its company by infringing on its patent rights and causing unfair market competition.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Author
News
Upstream Data Sues Crusoe Energy For Patent Stealing
Key Points:
- Upstream Data, a Canadian Bitcoin mining company, has launched a patent infringement case against Crusoe Energy in the United States District Court.
- According to the lawsuit, Crusoe’s technology infringes on Upstream Data creator Stephen Barbour’s patent, and Crusoe created that technology with full knowledge of this.
- The Canadian miner is suing for monetary damages and seeking the court to force Crusoe to cease allegedly infringing on his intellectual property.
According to a court filing, Upstream Data, a Canadian-based natural gas Bitcoin (BTC) miner, has sued competitor Crusoe Energy for patent infringement.
The complaint claims that Crusoe violated Upstream Data creator Stephen Barbour’s patent on Bitcoin mining technology, which is designed to convert stranded natural gas into Bitcoin. The Canadian miner is suing for monetary damages and seeking the court to force Crusoe to cease allegedly infringing on his intellectual property.
According to the lawsuit, the Canadian company has a patent for a method that uses stranded gas to create energy for cryptocurrency mining at distant oil well locations. The business has implemented over 350 Bitcoin mining equipment throughout the United States and Canada, addressing the problem of stranded gas venting and flaring, according to the filing.
Crusoe is aware of the allegation and intends to defend itself, according to a company spokesperson vigorously. The company remains confident in its intellectual property, which comprises five granted patents.
Crusoe, which manufactures and manages Bitcoin mining equipment linked to stranded natural gas sources, has been accused of competing with Upstream by selling and running systems that are comparable. According to the lawsuit, Crusoe’s “Digital Flare Mitigation” technologies violate Upstream’s patented technology.
The complaint also claims that Crusoe was aware of Upstream’s patented technology while developing its own goods. The complaint outlines occasions in which Crusoe named Upstream as a rival in blog postings and patent applications.
According to the complaint, Barbour registered for a natural gas Bitcoin mining patent in February 2017, the same year he formed his firm. On February 7, 2023, Barbour’s patent was approved.
Upstream claims that Crusoe’s activities have harmed its company by infringing on its patent rights and causing unfair market competition.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
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