VBit Technologies positioned itself as a provider of crypto mining solutions, primarily through its "Million-Miner Program Packs." The company sold these packages as investment contracts, which included mining hardware, hosting, and management services at its data center facilities. VBit claimed to make crypto mining accessible to individuals without the technical expertise required to manage the hardware themselves. However, in August 2022, the U.S. Securities and Exchange Commission (SEC) charged the company and its CEO with conducting a fraudulent and unregistered securities offering, leading to a cease-and-desist order and the effective shutdown of its operations.

Founded in

United States