On Friday 26 June 2026, the Commercial Court dismissed applications for anti-suit, anti-enforcement and anti-reliance injunctive relief brought by Tether Investments, S.A. de C.V. (“Tether”) against Electric Solidus, Inc. (trading as Swan Bitcoin (“Swan”)).

Tether and Swan are shareholders in 2040 Energy Ltd (“2040 Energy”), a joint venture Bitcoin mining company in which Tether holds 79% of the shares.

Swan alleges that Tether and the directors whom Tether appointed to 2040 Energy’s board of directors conspired together to misappropriate 2040 Energy’s assets, misuse its confidential information and divert its business opportunities.  Swan is seeking permission in the BVI…