River Sues Blockstream Services Canada Over $6.7 Million
River alleges missed payments under a hosted Bitcoin mining termination agreement, including about $3.5 million in prepaid-fee refunds and a $3.1 million early termination fee.
River Financial Inc. sued Blockstream Services Canada, ULC, in federal court over alleged missed payments tied to hosted Bitcoin (BTC) mining, seeking about $6.7 million and a jury trial.
River filed the complaint Sept. 11 in the U.S. District Court for the Northern District of California. The case concerns a termination agreement the companies allegedly signed Dec. 13, 2024.
River’s complaint alleges that Blockstream Services Canada owes approximately $3.5 million in refunds for prepaid hosting fees and a $3.1 million early termination fee. The combined amount is approximately $6.7 million.
The complaint also alleges that monthly repayments of $239,389.40 were scheduled to begin Aug. 1, 2025. River alleges the first missed payment occurred March 31, 2026, and that it sent demand letters beginning April 10 warning that overdue amounts would accrue interest at 9.75%.
River further alleges that Blockstream Services Canada acknowledged the outstanding balance in writing on May 27.
The defendant is Blockstream Services Canada, ULC, rather than Blockstream Corp. Blockstream Corp. has said the Canadian and U.S. services businesses had not been under its ownership, control or management since mid-2024 and had operated separately under a limited brand licensing agreement.
The filing provides additional details about the earlier federal contract case. The court docket identifies River as the plaintiff, Blockstream Services Canada as the defendant and the matter as a contract action under diversity jurisdiction.
River is seeking a jury trial. The case remains pending in federal court.
