Mintvest Capital has expanded its case against Energy & Compute, the company formerly known as Coinmint, with allegations that chief executive Ashton Soniat diverted bitcoin generated by the firm’s mining business to a personal wallet.
In the amended complaint, Mintvest says Soniat misappropriated 448.7193 BTC by misrepresenting when newly installed mining machines began operating. The suit also raises claims of securities fraud and RICO violations, and seeks damages tied to withheld profits, the allegedly stolen bitcoin, and additional punitive and statutory relief.
How the alleged diversion worked
According to the complaint, the disputed conduct centered on new mining equipment added to Coinmint’s operations. Mintvest alleges that Soniat told investors those machines started producing bitcoin later than they actually did.
The filing claims that in the period between the real startup date and the later date presented to investors, all bitcoin mined by those machines was redirected to Soniat’s personal wallet. Mintvest says the total amount involved was 448.7193 BTC.
Broader claims in the complaint
Beyond the alleged bitcoin diversion, the amended lawsuit accuses the company of failing to provide investors with financial reporting. Mintvest argues this reflected more than simple disorganization, describing it as a broader pattern of poor recordkeeping intended to conceal self-dealing and limit outside oversight.
The complaint includes allegations of securities fraud and violations under the Racketeer Influenced and Corrupt Organizations Act, or RICO. Those claims place the dispute beyond a simple accounting disagreement and frame it as alleged misconduct affecting both investor disclosures and company governance.
What Mintvest says it is owed
Mintvest says it holds 18.2% equity in the business. Based on that stake, it contends it is entitled to roughly $104 million in profits that were withheld.
It is also seeking at least $47.1 million tied to the 448.7193 BTC it says was improperly taken from the mining operations. In addition to those amounts, the complaint asks for punitive damages and statutory damages.
Dispute over the NYDIG transaction
The amended complaint also addresses the sale of Coinmint to NYDIG. Mintvest alleges that when NYDIG acquired the company, it was not compensated in line with the merger agreement.
According to the filing, that left Mintvest excluded from the ownership position it says it should have retained or been paid for as part of the transaction.
Next step and case context
At this stage, the allegations come from Mintvest’s amended complaint and have not been established in court. The filing broadens the legal pressure on Energy & Compute and Soniat by combining claims over allegedly diverted mining proceeds, missing financial reporting, and the handling of the NYDIG acquisition.
The next confirmed step is the litigation itself: the amended complaint now sets out the claims and damages Mintvest is pursuing against the company and its chief executive.
Source: protos.com