On Tuesday, September 8, 2026, Mintvest Capital Ltd. filed a complaint in the US District Court for the District of Puerto Rico against Energy & Compute LLC, formerly Coinmint LLC, its CEO Ashton Soniat, and several affiliated entities, including NYDIG-related and New York Life entities.
Mintvest, a minority owner with an 18.2% stake in Energy & Compute, is seeking at least $104 million in damages, alleging a fraudulent scheme that denied it profit distributions and financial information, while company assets and hundreds of bitcoin were diverted.
The lawsuit details claims of securities fraud, racketeering, breach of fiduciary duty, breach of contract, and unjust enrichment. Mintvest asserts that Energy & Compute, a Puerto Rico-based limited liability company, generated an estimated $570 million in profits from August 2022 through the present, with ongoing monthly profits of approximately $13.7 million. Mintvest calculates its share of these earlier profits at $103.7 million and is seeking an additional $2.5 million for each month until the trial and judgment.
According to the complaint, Mintvest has not received any distributions since August 2022, despite alleging that other owners have received them. Furthermore, Mintvest claims that Energy & Compute ceased providing monthly financial information in 2021 and has failed to issue Schedule K-1 tax forms since the 2019 tax year. Jane Becker, an attorney for Mintvest, stated that the company, which a Delaware court confirmed owns 18.2%, has received nothing since 2022.
This legal action is the latest development in a protracted ownership dispute dating back to 2019, when Mintvest and its principal, Prieur Leary III, challenged Coinmint’s ownership structure and its conversion into a Puerto Rico entity. A related case brought by Mintvest against NYDIG entities in federal court in Puerto Rico was dismissed in February due to a lack of subject-matter jurisdiction.
The new lawsuit also includes allegations concerning bitcoin produced prior to NYDIG’s acquisition of Coinmint. Mintvest alleges that Ashton Soniat diverted 448.7193 bitcoin, generated under “hashrate contracts” that provided investors a share of mined bitcoin. The complaint states that newly installed mining machines began producing bitcoin before investors were informed of their operational status.
Between February 2017 and January 2018, Soniat allegedly directed this bitcoin to a personal wallet instead of to the company and investors. The value of these diverted bitcoins is estimated at over $47.1 million, based on a price of approximately $105,000 per bitcoin cited in the filing. Mintvest is pursuing racketeering and conversion claims on behalf of Energy & Compute, seeking at least $47.1 million for the company and treble damages under the federal Racketeer Influenced and Corrupt Organizations Act (RICO).
Additionally, the lawsuit alleges that in 2021, Soniat threatened to cancel investors’ contracts unless they accepted buyouts valued at 20% of the contracts’ worth, characterizing this conduct as part of the racketeering pattern underlying the RICO claims.
The acquisition of Coinmint by NYDIG is also under scrutiny. The complaint alleges that during a meeting at NYDIG’s offices in May 2023, an NYDIG executive questioned Leary extensively about Coinmint and Mintvest’s ownership stake while allegedly concealing NYDIG’s interest in acquiring Coinmint. Mintvest contends that this information was used in NYDIG’s due diligence process without Mintvest’s knowledge of the planned acquisition. NYDIG acquired Coinmint on June 30, 2024, through a merger, after which Coinmint changed its name to Energy & Compute.
Mintvest alleges that the merger agreement, which provided compensation to Coinmint equityholders, resulted in Mintvest receiving nothing despite its 18.2% interest. Mintvest argues that the conduct surrounding the transaction constituted securities fraud, as its ownership interest qualified as an investment contract under federal securities law, and material information was withheld during the acquisition planning.
The complaint also references an arbitration between Coinmint and Katena Computing Technologies Inc., where the panel reportedly found that Coinmint misrepresented its available cash for a $37.5 million down payment and had made over $60 million in payments to Soniat before the contract was signed.
Mintvest is requesting a full accounting of Energy & Compute’s finances, including profits, distributions, bitcoin, investor funds, and related-party transactions. The company also seeks past-due financial statements and tax documents, its monthly 18.2% share of future profits, and an order to prevent distributions to other members until Mintvest receives a proportional payment.
The lawsuit asks the court to consider appointing a receiver or special master to oversee distributions and potentially order a buyout of Mintvest’s interest at fair value. Mintvest has demanded a jury trial.
Please contact BlockTribune for access to a copy of this filing.
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