Bitcoin mining company Proton Management has denied competitor Swan Bitcoin's allegations of mining business theft. In their recent filing, Proton Management also stated that Swan Bitcoin does not own a mining business.
Swan Bitcoin's Allegations
Swan Bitcoin filed a lawsuit against Proton Management, accusing six former employees and the company of conspiring to steal their mining business. The lawsuit alleges that the employees stole software code and used it to launch their own mining firm.
Proton Management's Response
Proton's lawyers argue that Swan Bitcoin relies on a separate entity, 2040 Energy, funded by Tether, for its mining operations. They claim 2040 Energy is not controlled by Swan Bitcoin, which only holds a minority stake.
Case Details
The employees allegedly created an 'illegal facsimile' of Swan's mining business, Proton Management. The lawsuit claims this new business was created using stolen software code from Swan.
Proton Management firmly denies all accusations and insists that Swan Bitcoin cannot consider itself a mining business owner, as it relies on an external entity for these operations.
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