$200k Daily? Mawson Allegedly Redirected Hashrate for Personal Profit

In the Stone Ridge lawsuit against Mawson, reports emerged that the hosting firm was earning as much as $200k per day by redirecting the hashrate of over 20000 ASIC machines. According to TheMinerMag, these rigs belong to Consensus (a NYDIG subsidiary). Stone Ridge asserts Mawson had no right to cut off the company’s access and exploit the miners for its own gain.

The case began after Mawson billed Stone Ridge $2 mln in electricity fees, which Stone Ridge deemed excessive. The plaintiffs claim Mawson took advantage of contractual loopholes and used its own payout wallet for block rewards. Mawson has not officially confirmed these allegations.

Industry analysts note such disputes might deter large-scale investors from committing to mining infrastructure, given the potential for hosting providers in remote regions to manipulate hardware usage. Stone Ridge is seeking an injunction to halt any further mining until the equipment is returned and all unpaid earnings are compensated.