On Wednesday, a Beijing district court voided a bitcoin mining contract in a business dispute, setting a precedent for such disputes in the region. In a 2019 contract, a Beijing-based company called Phonf (Fengfu Jiuxin in Chinese) commissioned a Tianjin-based blockchain company called Zhongyan Zhichuang (ZYZC) to mine bitcoin and share mining profits. Phonf is suing ZYZC for owed gains. In the initial trial, the court ruled the contract invalid and dismissed Phonf’s claims for unpaid bitcoin mining gains. [Xinhua News, in Chinese]