Bitcoin Mining Firm Proton Management Denies Swan Bitcoin's Lawsuit, Claims It 'Does Not Have a Mining Business of Its Own'

Last week, Swan Bitcoin filed a complaint in the Central District of California that Proton “hatched and executed a ‘rain and hellfire’ plan to steal Swan’s” mining business.

Bitcoin mining firm Proton Management has denied the legality of a recent lawsuit filed by Swan Bitcoin, claiming that the latter “does not have a mining business of its own.”

Last week, Swan Bitcoin filed a complaint in the Central District of California, alleging that Proton “hatched and executed a ‘rain and hellfire’ plan to steal Swan’s” mining business. It accuses several of its former consultants of misappropriating Swan’s intellectual property to “copy” its operations at Proton.

However, in a written response filed on Monday, Proton stated that Swan did not have a mining business to copy in the first place. “Rather, as Swan admits in its complaint and publicly, what Swan has called its mining business is really just a separate entity called 2040 Energy, which is fully funded by Tether.”

Proton's response also claims that Swan only holds a minority stake in 2040 Energy and that the accused consultants left Swan voluntarily due to poor management and happened to join Proton later.

“Swan has suffered no damage by Proton’s activities,” the response claims, adding that Proton is “enhancing the value of [Swan’s] minority stake in 2040 Energy.”

Proton insists that no IP has been stolen and requests the case be dismissed, especially because the firm operates entirely overseas.

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