Layer1 Lawsuit By Co-Founder Dismissed with Prejudice by Texas Court

SAN FRANCISCO, Dec. 1, 2020 /PRNewswire/ -- Layer1 Technologies, the first U.S. based renewable energy, fully-integrated Bitcoin mining company, announced today that the lawsuit brought by co-founder Jakov Dolic has been dismissed with prejudice by the United States District Court for the Western District of Texas. In this lawsuit, Mr. Dolic alleged (among other things) that he, not Layer1, is the owner of the substation in West Texas.

"As we've maintained from the beginning, Dolic's complaint was completely meritless and contained numerous factual allegations that are demonstrably false," said Alexander Liegl, co-founder and CEO, Layer1.

One day after Layer1 notified Mr. Dolic's legal counsel in a draft notice of the many ways in which his complaint contained false factual allegations, Mr. Dolic filed a notice with the court that he was dismissing the action without prejudice. However, on November 16, 2020, the judge in this action issued an order dismissing the complaint "with prejudice." A dismissal with prejudice means that Mr. Dolic is legally prohibited from filing another lawsuit based on the same grounds.

To learn about Layer1, please contact [email protected].

About Layer1

Layer1 is the first U.S. based renewable energy, fully-integrated Bitcoin mining company. Layer1's team consists of Bitcoin enthusiasts, energy entrepreneurs, and data center technology experts who are on a mission to build a sustainable future for the digital world's growing energy needs.

Layer1 is backed by VCs including Digital Currency Group, Shasta Ventures, and PayPal co-founder Peter Thiel. Layer1 has its headquarters in San Francisco, with additional offices and an engineering presence in Texas, Europe, and China. To learn more about the company, please visit www.layer1.com.

SOURCE Layer1 Technologies