Coinmint sues California chipmaker for $23M over alleged deception

New York-based cryptocurrency miner Coinmint has filed a lawsuit in Santa Clara County Superior Court in California, claiming that bitcoin technology firm Katena Computing and semiconductor designer DX Corr set up a scheme to convince it to buy up to $150m of bitcoin mining machines that Katena couldn’t and didn’t plan to deliver on. Coinmint alleges fraud, breach of contract and fiduciary duty against DX Corr and its executives, as well as former Coinmint employees. Coinmint is asking for over $23m in damages, which it deposited for the sale, as well as punitive and exemplary damages. Coinmint also claimed that Katena “improperly influenced, bribed or incentivized co-conspirators” to encourage the $150m purchase of bitcoin mining machines.

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