Quantum Blockchain Technologies PLC (AIM:QBT) said a UK legal claim against the company has been abandoned, with €77,000 costs paid.
Further legal costs and damages may be awarded to the company following a final UK hearing for its counterclaim against former shareholders and directors of Sosushi.
A ruling for a separate Italian claim for damages against Sosushi’s previous management, which is being pursued by subsidiary Clear Leisure 2017, is expected by the end of 2022.
"Although the board’s main focus remains on its disruptive bitcoin mining R&D programme, the legal claims still represent an important asset to the company and therefore they are dealt with extreme care," said QBT executive chairman Francesco Gardin.
"We are pleased with the outcome of the legal defence in the Sosushi UK claim which proved that the claimants’ position had no merit and we look forward to the result in respect of the Sosushi UK claim."
Gardin said the board is pleased with the progress and timetable of the Sipiem and Sosushi Italian claims, which once concluded will free the company "from an important but time-consuming task".
In May, QBT started live Bitcoin mining using an experimental algorithm, the final step of nearly a year’s work by one of the company’s two machine learning teams.