Crypto mining company Whinstone US Inc., the largest Bitcoin hosting facility in North America, has filed a multimillion-dollar securities fraud lawsuit in a Texas state court against joint venture partners, Imperium Investment Holding LLC and Rhodium Enterprises Inc., and their officers claiming they formed entities to divert revenue from the crypto mining company.
Bracewell partner David Shargel told the Texas Lawyer to expect more of these types of disputes as the cryptocurrency space evolves.
“As any type of crypto operation becomes more mainstream and attracts a more diverse brand of outside investors or other business participants, you’re always going to have an increase in disputes related to those business arrangements,” said Shargel.
