bitcoin btcusd miner hut 8 mining corp hut is looking for thirdparty energy supplier mediation after disagreements over a joint power purchase agreement caused portions of its operations to shut down the canadian company was forced to halt mining bitcoin at its facility in north bay ontario after the energy supplier validus stopped supplying the location with energy the mining company runs two other mining locations in southern alberta the service provider alleged hut 8 missed payments on time hut 8 issued a statement on monday refuting those claims hut 8 claimed earlier this month it had served validus with a notice alleging the energy provider was on the verge of defaulting on its obligations under the terms of the two companies power purchase agreement hut 8 blamed validus for failing to meet specific operational milestones by important dates outlined in the terms hut 8 also reported ongoing talks with validus have so far failed to lessen the operational and financial effects of associated issues also read exclusive is crypto just for speculation more americans use crypto for purchases than you may think as of june the ontario site had 5800 installed miners used 20 mw of power and contributed 20 of hut 8s overall hashrate hut 8 indicated it was using a third party to mediate the dispute with validus and expressed optimism that a settlement could be reached without going to court regarding the operational benchmarks it claimed validus had missed they declined to speak further   hut 8 could have survived without the disruption  most miners are finding it difficult to overcome considerable obstacles as a result of a sharp decline in bitcoins price which has lost 66 of its value so far this year in fact profits have been negatively impacted by high electricity costs low bitcoin prices and rising mining difficulty hut 8 thus experienced a 36 loss in thirdquarter revenue from the same time last year going from 503 million to 317 million according to the latest financial reports mining profits for the same quarter decreased by 72 to 93 million from 335 million in the third quarter of 2021 last year at this time bitcoin was trading at around 60000 and now it is around 16500 despite the challenging market conditions hut 8 has publicly committed to holding onto all of its bitcoin at the end of august the company was still mining 121 btc 200000 every day maintaining 8111 btc 1336 million total along with most of its competitors the firms stock which commands a market value of about 220 million has also suffered falling more than 85 year to date making it even more crucial to get its miners back up as quickly as possible read next will makerdao vote to raise the dai stablecoin yield here are the results so far click here to sign up for benzingas future of crypto conference on dec 7 in new york city this is the biggest day of the year for crypto enthusiasts entrepreneurs investors and networkers to discover the 1 crypto ideas you can use today –—directly from hundreds of industry insiders and dozens of project creators