VBit Technologies Corp. (Danh C. Vo)
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anchored·3oJaHL…p4q4Summary
VBit Technologies Corp. was a South Philadelphia-based bitcoin cloud-mining company founded in 2018 by Danh C. Vo. In December 2025 the U.S. Securities and Exchange Commission filed a civil complaint in the U.S. District Court for the District of Delaware alleging that Vo raised over $95.6 million from approximately 6,400 investors via 'hosting agreements' for mining rigs, the majority of which the SEC alleges did not exist, and then misappropriated approximately $48.5 million of those funds for personal use before departing the United States in November 2021. The company is now defunct; Vo's precise current whereabouts have not been publicly confirmed by authorities.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(14 events)
19 December 2018
VBit Technologies Corp. founded by Danh C. Vo in South Philadelphia; begins selling bitcoin mining hosting agreements to investors.
SEC Complaint LR-264481 January 2020
By 2020, VBit had capacity to operate approximately 1,000 mining rigs across all data centers, but held contracts for approximately 2,700 units, according to the SEC complaint.
Pittsburgh Post-Gazette19 July 2021
Washington State Department of Financial Institutions issues a consent order (S-20-3010-21-CO01) requiring VBit to cease selling hosting agreements to Washington residents and refund approximately $156,000 to 82 customers.
Washington State DFI Consent Order1 March 2021
VBit DC Holdings purchases a bitcoin mining facility at 530 Berne Road, Columbia Heights, Montana for approximately $874,262.
Daily Inter Lake19 October 2021
Danh C. Vo allegedly becomes aware that the SEC is investigating VBit Technologies, according to the SEC complaint.
SEC Complaint LR-2644820 November 2021
Vo departs the United States; travel itinerary indicates Vietnam as final destination. Files for divorce around the same time.
PhillyVoice31 January 2022
VBit Technologies announces it has been acquired by Advanced Mining Group for $105 million. The SEC would later allege that Advanced Mining Group had no legitimate pre-existing business.
GlobeNewswire press release / SEC Complaint13 February 2022
SEC complaint alleges VBit's fraudulent hosting agreement sales continued through at least this date.
SEC Complaint LR-2644827 June 2022
Advanced Mining Group (successor to VBit) notifies customers it is ceasing U.S. operations, citing a 'potential pending settlement' with the SEC. Investor withdrawals freeze.
Pittsburgh Post-Gazette2 September 2022
Private investors file a federal civil lawsuit alleging securities fraud and Ponzi scheme operation in Delaware.
Pittsburgh Post-Gazette1 December 2022
Multiple additional civil class-action complaints filed against VBit Technologies in Delaware and Pennsylvania federal courts, including Huntley v. VBIT Technologies Corp. (1:2022cv01164).
Philadelphia Inquirer1 February 2023
Montana Commissioner of Securities and Insurance pursues regulatory action against VBit/Advanced Mining Group over its Columbia Falls data center operations.
Montana CSI1 May 2025
U.S. District Court Judge Gregory B. Williams authorizes U.S. Marshals to seize the Columbia Heights, Montana mining facility at 530 Berne Road.
Daily Inter Lake17 December 2025
SEC files civil complaint (LR-26448) against Danh C. Vo and VBit Technologies Corp. in U.S. District Court for the District of Delaware, alleging fraud involving $95.6 million raised from approximately 6,400 investors and $48.5 million allegedly misappropriated.
SEC Litigation Release LR-26448Decision Log
- hash: CDq17hbGzSDovRuxcBQjso4sKsJzABLBwoNzBGro3BBF
This investigation is cryptographically anchored to the Solana blockchain (1 event). 15 of 16 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/27/2026, 11:05:34 PM
last updated: 9/28/2026, 2:45:38 AM
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