Bitcoin Mining Equipment Fiasco Ends Up on a Breach Contract Claim for Crypto Hardware PCBs
Bitcoin Mining Hardware Delivery Ends Up On A Breach Contract Claim
In a recent report released, the case related to Timefire, Inc. v. Aqs Eng’G, 2019. The experts Nelson Rosario and Stephen Palley explain that the issue before the court was related to whether there was sufficient evidence to support the jury’s damages award for the plaintiff.
As reported in the bitcoin mining case, the plaintiff sued the defendant for $550,000 since it was not able to deliver 222 of the 300 circuit boards requested by the company. PCBs is the company that specialized in designing printed circuit boards. The plaintiff decided to sign a contract with the defendant to manufacture a PCB to mine Bitcoin (BTC).
The firm couldn’t deliver 222 PCBs to the plaintiff. They delivered them to HashFast, that sold the boards, kept the profits and ended up going bankrupt. Thus, the plaintiff sued for breach of contract. They are now trying to seek damages equal to the sale price of the boards delivered to HashFast. The jury decided to give $337,000 to the Plaintiff, an amount larger than what HashFast charged and received. Nonetheless, this amount was smaller than what the Plaintiff claimed it could have sold the beards for.
According to the report released by The Block, the experts inform that The court said that the Plaintiff had pre-paid for 300 PCBs for $28,950. 222 of them were delivered to someone else that sold them for $1,500 per PCB.
The court explained:
“One of the oldest precepts in damages law in this state applies well here. Where AQS “by its own wrong forced TimeFire into the strait of proving damages, it cannot complain that the latter used the best methods left” to make itself whole.”