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Allrise/Bitmain/Merkle Standard have been misleading the citizens of Pend Oreille County in claiming that our PUD secretly negotiated with Clark County PUD to sell the output of the Box Canyon Dam. PUD documents obtained through public records requests show that our PUD not only directly informed Allrise Capital about the negotiations but also provided extensive details about their content and status at least FIVE MONTHS before entering into the contract with Clark County at the end of October 2022. These documents also show that Allrise Capital positively affirmed just two weeks before PUD commissioners approved the contract with Clark County PUD that Allrise was not in a financial position to enter into a contract for the dam’s power. The smoking gun document is a letter dated May 19, 2022, from the PUD to Ruslan Zinurov, Allrise Capital’s CEO at the time, titled “RE: Power Supply Negotiations.” The letter includes multiple paragraphs about Box Canyon describing the details of the future contract with Clark County PUD and the status of the negotiations. Another letter from the PUD to Merkle Standard’s Steve Wood, dated October 17, 2022, and titled “Re: Box Canyon Output,” states that on September 26, 2022, Mikhail Trubchik, Allrise Capital’s current CEO, had told PUD leaders that Allrise could not afford a deal for Box Canyon power. Allrise/Bitmain/Merkle’s misinformation campaign to smear our PUD in hopes of derailing a lucrative deal for County residents and coercing the PUD into a power contract that favors Beijing’s bitcoin mining ahead of the citizens of Pend Oreille County is reprehensible. Read the documents for yourself by downloading them below: 
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