Lancium LLC Files A Lawsuit Against Bitcoin Mining Firm “Layer1” For Patent Infringement
Lancium LLC Files A Lawsuit Against Bitcoin Mining Firm “Layer1” For Patent Infringement
August 17, 2020
Lancium LLC Files A Lawsuit Against Bitcoin Mining Firm “Layer1” For Patent Infringement
Lancium LLC Files A Lawsuit Against Bitcoin Mining Firm “Layer1” For Patent Infringement
August 17, 2020

Lancium LLC, a US-based cloud computing company, has filed a lawsuit against Layer1, a Bitcoin (BTC) mining firm, for patent infringement in the Western District Court of Texas.

On August 14, it has been reported that the power usage model employed by Layer1 for Bitcoin mining violates Lancium LLC’s patent filed in March 2020. 

However, Michael McNamara and Raymond Cline, the co-founders of Lancium LLC, had reportedly filed the patent after formulating a method to help data centers shut down or start operations depending on the cost of electricity in near real-time.

The company claims that its data center power management system allows data centers to be more flexible with their energy consumption and more efficiently handle computing workloads including Bitcoin mining.

As per the report, Layer1 had purportedly been using the exact same method to operate its Bitcoin mining operations while calling it “its proprietary demand-response software.”

ALSO READ :  Blockchain Emerges As A Solution For Many Issues Despite Technology Development And Economic Measures

Lancium alleges that Layer1 has violated US patent laws by infringing on multiple parts of Lancium LLC’s patent “by manufacturing, using, offering to sell, selling, and/or importing infringing systems and methods for adjusting power consumption utilized in or by at least Layer1’s Bitcoin mining facilities.”

Also, the firm argued in its statement that Layer1’s alleged transgression had caused “irreplaceable harm” to Lancium LLC.

While the value of damages will be determined during the trial, the company said the amount “cannot be less than a reasonable royalty” and requested compensation for the same.

Thus, according to the report, Lancium has also requested the court to publish a permanent injunction that could prevent Layer1 or its employees from further violating the company patent.

Source: Cointelegraph | Image: Geotab


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Huobi Labuan Launches Trading Services In Malaysia

Huobi Labuan Launches Trading Services In Malaysia

The new Huobi Labuan is launching trading services in Malaysia shortly after having secured a digital asset trading brokerage service license from their authorities in September 2020. It has been reported that for an...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.