Bit Digital sues Blockfusion to recover $5M investment

Nasdaq-listed Bit Digital (BTBT), a company focused on Ethereum (ETH) investments, has filed a lawsuit against crypto mining firm Blockfusion, PageSix reported. The suit alleges that Blockfusion is attempting to go public through a merger with a special purpose acquisition company (SPAC), Blue Acquisition, without repaying a $5 million investment from Bit Digital. Bit Digital is asking the court to issue an order halting the SPAC merger and compelling Blockfusion to return the funds.