Proton Management Claims Swan Has No Mining Business, Only Stake in Tether-Funded 2040 Energy

Proton Management has stated that Swan Bitcoin does not have its own mining business, but only a minority stake in 2040 Energy, funded by Tether. Proton asserts that Swan’s allegations of intellectual property theft are unfounded.

According to Proton, Swan owns only 15% of 2040 Energy’s shares, and therefore cannot claim exclusive rights in mining. Proton Management has invested $25 million in expanding its mining capacities and plans to increase hashrate by 50% next year.

The legal battle between Swan and Proton continues, and experts believe that the court’s decision could impact the entire crypto mining market.