VBit Technologies was a Philadelphia-based cryptocurrency mining company founded in 2018 by Danh Cong Tran, specializing in Bitcoin mining hardware sales and managed hosting services. The company offered turnkey mining packages where investors could purchase miners (e.g., Bitmain Antminer models) and have them hosted in VBit's facilities, with promised daily payouts and high returns (up to 1% daily). VBit claimed to operate large-scale data centers in the U.S. and Canada, with over 5,000 miners deployed and hosting capacity for thousands of clients. However, in 2023, the Pennsylvania Attorney General sued VBit for operating a $5.3 million Ponzi scheme, alleging fraudulent marketing of mining contracts with unrealistic returns and misuse of investor funds. The company ceased operations, and Tran was charged with fraud. No current activities or assets remain, and the firm is considered defunct as of 2025.

‍