SEC Says Crypto Mining Co. Misused $20M From Investors - Law360
The SEC sued Florida-based crypto mining firm Mining Automatic and founder Zan Shaikh, alleging they raised about $22 million from more than 380 investors between June 2023 and May 2025 while spending only around 13% on actual mining. Investors are still owed at least $20 million; both defendants agreed to settle without admitting wrongdoing.
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