King Mountain facility energy and connectivity failures
Company: Hut 8 - Project: King Mountain
The claim, verbatim
King Mountain Joint Venture historically failed to provide adequate energy and high-speed internet, the two most essential inputs for bitcoin mining, rendering it financially unstable.
Source (primary)
Thompson v. Leverton — Entry #9: FIRST AMENDED COMPLAINT amending 1 Complaint, against Joseph Flinn, Asher Genoot, Alexia Hefti, Michael Ho, Hut 8 Corp., Jamie Leverton, Stanley O'Neal, Rick… (RECAP, court_filing)
View cached copy (2026-09-26)Live source ↗
Quote: “USBTC's main asset and premier mining location, King Mountain Joint Venture, which became the property of Hut 8 by dint of the Merger, was not a financially stable asset since it "historically failed to provide energy and high-speed internet –unquestionably the two most important inputs for mining Bitcoin;"”
How we checked this
Checked on September 28, 2026. The cited source supports part of this claim, but not all of it.
The document reports these as allegations from the plaintiff and a short-seller report. It does not establish them as proven facts.
Confirmed in the source:
- The complaint, quoting a J Capital Research report, alleges that King Mountain 'historically failed to provide energy and high-speed internet', calling them the two most important inputs for bitcoin mining
- The complaint alleges that King Mountain was therefore not a financially stable asset
We could not confirm this from the cited source:
- That King Mountain Joint Venture in fact historically failed to provide adequate energy and high-speed internet (the document only relays allegations from J Capital and MARA filings)
- That King Mountain was in fact financially unstable (the document only alleges this)
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of RECAP (https://storage.courtlistener.com/recap/gov.uscourts.nysd.618845/gov.uscourts.nysd.618845.9.0.pdf) in full (109,679 characters, retrieved September 26, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Thompson v. Leverton — Entry #9: FIRST AMENDED COMPLAINT amending 1 Complaint, against Joseph Flinn, Asher Genoot, Alexia Hefti, Michael Ho, Hut 8 Corp., Jamie Leverton, Stanley O'Neal, Rick…
Quote: “USBTC's main asset and premier mining location, King Mountain Joint Venture, which became the property of Hut 8 by dint of the Merger, was not a financially stable asset since it "historically failed to provide energy and high-speed internet –unquestionably the two most important inputs for mining Bitcoin;"”