For anyone trying to understand where things stand today with Michael Maranda / Northway Mining and related matters, there are now several public court decisions and dockets that are worth looking at.
1. Recent Bit Intelligence judgment (New York)
In April 2026, the Supreme Court of the State of New York (Schenectady County) issued a Decision and Order in Bit Intelligence, LTC and Bit Intelligence LTD v. Michael Maranda and Michael Maranda LLC (Index No. 2022‑749).
According to that decision, the court found that:
Bit Intelligence shipped 7,468 bitcoin miners to Maranda’s operation.
After attempts to recover equipment, 3,360 miners remained unreturned.
Based on evidence presented, the court valued the missing equipment and associated lost mining income and entered a civil judgment totaling $58,282,795 (equipment value plus lost‑profit damages, before interest).
The court struck the defendants’ answer and proceeded by inquest after they failed to comply with discovery orders.
A readable version of that decision is here (free, no login):
Leagle summary of the Bit Intelligence decision:
https://www.leagle.com/decision/innyco20260423482This is a civil judgment; it doesn’t itself impose criminal penalties, but it does record the court’s findings on the miner shipments, the number of machines not returned, and the resulting damages.
2. Earlier Northway / Maranda litigation
Before Bit Intelligence, there were already federal cases describing similar issues around Northway Mining.
In MinedMap, Inc. v. Northway Mining LLC, et al. (N.D.N.Y., Case No. 1:19‑cv‑00501), the plaintiffs (MinedMap, Serenity Alpha, and others) alleged that:
Northway Mining, Michael Maranda, and several affiliates represented that they operated a warehouse facility in Coxsackie, New York, capable of hosting thousands of bitcoin miners.
Relying on those representations, plaintiffs sent several thousand ASIC mining machines to the facility and paid substantial amounts for power and hosting.
The complaint alleged that the facility did not operate as represented and that funds and equipment were misused or transferred.
The federal court ultimately dismissed the civil RICO claim on pleading/jurisdiction grounds; it did not make a final merits finding on all underlying factual allegations. However, the opinions are useful for understanding what plaintiffs say happened and who was involved:
GovInfo PDF of one of the N.D.N.Y. opinions (facts and procedural history):
https://www.govinfo.gov/content/pkg/USCOURTS-nynd-1_19-cv-00501/pdf/USCOURTS-nynd-1_19-cv-00501-3.pdfThere is also a Second Circuit summary order affirming dismissal of the civil RICO claim:
GovInfo PDF (Second Circuit, 21‑1480‑cv):
https://www.govinfo.gov/content/pkg/USCOURTS-nynd-1_19-cv-00501/pdf/USCOURTS-nynd-1_19-cv-00501-4.pdfFor media coverage contemporaneous with those allegations:
CCN article by P. H. Madore – “New York Bitcoin Mining Magnate Accused of Stealing Over 5000 Crypto Miners”:
https://www.ccn.com/new-york-bitcoin-mining-magnate-accused-of-stealing-over-5000-crypto-miners/That article largely tracks what was alleged in the MinedMap/Serenity litigation.
3. Maranda’s appearance in the SQRL (Squirrels Research Labs) bankruptcy
Separately from the New York cases, Maranda is referenced in public filings in an Ohio Chapter 11 case involving Squirrels Research Labs LLC (“SQRL”) and The Midwest Data Company LLC (Bankr. N.D. Ohio, Case No. 21‑61491). The case is about FPGA‑based crypto mining hardware and related operations.
The joint SQRL/Midwest bankruptcy docket is here on CourtListener:
Main docket (all entries):
https://www.courtlistener.com/docket/61571770/squirrels-research-labs-llc-and-the-midwest-data-company-llc/From creditor filings and whistleblower exhibits (these are allegations, not findings unless/until a court rules on them), SQRL creditors contend that:
Large quantities of Intel/Xilinx FPGA boards and associated mining revenue were never fully disclosed as estate assets.
Certain wallets allegedly linked to SQRL‑related mining (including at least one 8 BTC wallet) were not scheduled in the bankruptcy.
Funds and hardware were, according to these filings, moved among SQRL, The Midwest Data Company, Squirrels LLC, Tulip Tech, and other related entities.
Maranda is described in some of those materials as being involved in mining operations and business relationships with SQRL insiders, alongside other individuals. Creditors use his prior history with Northway and the New York litigation to argue there is a recurring pattern, but those arguments are still just that—arguments—unless adopted by the court.
For anyone who wants to review the SQRL side in more detail, these specific CourtListener links are particularly relevant:
ECF 332 – Objection identifying alleged “false filings” and other issues
(Discusses Subchapter V eligibility, Form 201 debt amounts, and commingling of entities.)
https://www.courtlistener.com/docket/61571770/squirrels-research-labs-llc-and-the-midwest-data-company-llc/?page=8#entry-332ECF 353 – Exhibit containing whistleblower leak
(Telegram/Discord material about staged mining demos and technical background; filed as Exhibit 2.)
https://www.courtlistener.com/docket/61571770/squirrels-research-labs-llc-and-the-midwest-data-company-llc/?page=9#entry-353ECF 354 – Objection to insurance‑settlement allocation
(Raises questions about how fire‑insurance proceeds were split between SQRL and Midwest Data.)
https://www.courtlistener.com/docket/61571770/squirrels-research-labs-llc-and-the-midwest-data-company-llc/?page=9#entry-354ECF 397 – Ad Hoc Committee’s objection to insider settlement
(Summarizes alleged insider transfers, undisclosed crypto assets, and reasons creditors say the proposed settlement is inadequate.)
https://www.courtlistener.com/docket/61571770/squirrels-research-labs-llc-and-the-midwest-data-company-llc/?page=11#entry-397ECF 403 – Debtor’s reply to objection
(SQRL’s response to the above objections, explaining the debtor’s position.)
https://www.courtlistener.com/docket/61571770/squirrels-research-labs-llc-and-the-midwest-data-company-llc/?page=11#entry-403Those documents show how SQRL creditors are connecting Maranda’s name and the Northway/Bit Intelligence history to what they say happened in the FPGA mining and bankruptcy context. The bankruptcy court has not, as of now, issued a comprehensive criminal‑style finding on those allegations; they should be read as the creditors’ side of the story unless specifically adopted by the judge.
Bottom line:
The Bit Intelligence decision is a clear, recent civil judgment against Maranda and his LLC for the non‑return of thousands of miners and associated lost‑profit damages.
Earlier MinedMap/Serenity litigation and related reporting describe similar alleged conduct by Maranda and his entities in the Northway era, though the federal civil RICO claims there were ultimately dismissed on legal grounds.
In Ohio, the SQRL Chapter 11 docket shows creditors pointing to that history and raising similar concerns about undeclared mining hardware and wallets, with Maranda named in their filings; those points remain allegations unless and until the bankruptcy court or another tribunal rules on them.
All of the links above are to primary sources (court dockets and decisions) or to news coverage summarizing what those public records say, so people can review and reach their own conclusions.
