River Financial, the Peter Thiel-backed bitcoin brokerage, has sued Blockstream Services Canada, the bitcoin mining services business spun out of Blockstream. The dispute dates to a December 2021 agreement, for which River had prepaid nearly $7.8 million in 2021 and 2022. By December 13, 2024, Blockstream still held $4.3 million of those prepayments, and the two companies signed a termination agreement under which Blockstream owed River roughly $3.5 million in prepaid hosting fee refunds and $3.1 million in early termination fees, totaling $6.7 million. Blockstream stopped paying on March 31, 2026, and River alleges breach of contract and unjust enrichment.
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