You are currently viewing Coinmint Sues California Chipmaker for $23M, Alleging ‘Elaborate Deception’

New York crypto miner Coinmint alleged two semiconductor companies set up an “elaborate deception” to lure the miner into a $150 million purchase agreement, in a lawsuit seeking over $23 million in damages.

Coinmint alleged that bitcoin technology firm Katena Computing and semiconductor designer company DX Corr set up a scheme to convince it to buy up to $150 million of bitcoin mining machines that Katena couldn’t and didn’t plan to deliver on, according to a lawsuit filed with a court in California’s Santa Clara County Superior Court on Jan. 26.

Under the scheme, Katena “improperly influenced, bribed or incentivized co-conspirators,” including one unnamed person within the mining firm, for a $150 million purchase of bitcoin mining machines, Coinmint alleged.

The lawsuit alleges fraud, breach of contract and fiduciary

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