Coinmint CEO Ashton Soniat Accused of Misappropriating 448 BTC in Investor Lawsuit

Alleged theft and fraud

Mintvest Capital filed an amended complaint against Energy & Computing, LLC, formerly known as Coinmint. The suit says the company’s chief executive, Ashton Soniat, redirected Bitcoin produced by the firm’s mining rigs into his own personal wallet.

The complaint also accuses Soniat of securities fraud and violations of the Racketeer Influenced and Corrupt Organizations Act (RICO).

Key points

• Mintvest claims Soniat stole 448.7193 BTC from mining operations.
• Investors were told that new mining machines began producing later than they actually did.
• During the gap between real start‑up and announced start‑up, all Bitcoin was sent to Soniat’s personal wallet.
• Mintvest seeks at least $104 million for withheld profits and $47.1 million for the stolen Bitcoin, plus punitive damages.

Financial claims and damages

Mintvest, which holds an 18.2 % equity stake in Coinmint, says the company generated profits over $570 million. The plaintiff argues that its share entitles it to about $104 million.

In addition to the profit claim, Mintvest demands compensation for the 448.7 BTC it says were misappropriated, valuing the loss at roughly $47.1 million.

Background and other disputes

Coinmint has faced other legal battles, including a lawsuit against Katena Computing and DX Corr over a $150 million purchase of Bitcoin mining rigs.

The current complaint is linked to an earlier suit that was dismissed without prejudice.

Open questions

• The court has not yet ruled on the allegations; the claims remain unverified.
• NYDIG, a defendant in the case, has not provided a comment.

Why it matters

If the allegations are proven, the case could highlight risks of self‑dealing in Bitcoin mining firms and the importance of transparent financial reporting for investors.

Sources

• Protos