Digital Shovel Holdings Inc. has filed a lawsuit against RK Mission Critical LLC, RK Mechanical LLC, and RK Industries LLC in the US District Court for the District of Colorado, accusing them of patent infringement, according to a press release sent to Bitcoin Magazine. The dispute revolves around Digital Shovel’s V-Shape technology, designed to increase miner density in crypto mining containers.

Digital Shovel developed the V-Shape technology in 2018, securing patents in 2022, 2023, and 2024. These patents enable a 30% increase in miner density, providing significant operational advantages. According to the complaint, Compute North, a client of RK Mission Critical, initially sought to license this technology from Digital Shovel in 2019 but was refused. Despite this, RK Mission Critical allegedly produced containers strikingly similar to Digital Shovel’s, with some staff initially mistaking them for their own products.

“Instead of competing fairly, defendants are exploiting the innovative technologies that Digital Shovel has worked hard to develop and protect through patents,” the complaint stated.

Digital Shovel’s CEO, Scot Johnson, stated that based on RK Mission Critical’s marketing, they believe they’ve sold approximately 850 units which were sold for over $200,000 per unit, resulting in sales of $170 million worth of product.

“A variety of publicly traded mining companies are using the product from RK,” Johnson said. “However, our focus is not on them or any other end user at this time. It’s on enforcing our intellectual property on the company that is building products using our technology and stealing customers from us.”

Despite being aware of the pending patents since 2021, Digital Shovel claims RK Mission Critical continued its production without authorization, and their refusal to engage in settlement negotiations has led Digital Shovel to seek legal redress. The company aims to obtain compensation and a court order to prevent further sales of the infringing containers.

Bitcoin Magazine will be interviewing Johnson in an upcoming spaces on X later today at 1:15PM EST, where those interested in learning more about this lawsuit are encouraged to attend.

Bitcoin exchange-traded funds (ETFs) in the U.S. saw their largest daily inflow in almost a month on Monday, totalling $129 million. Based on historical price trends, Bitcoin appears poised to start July on a bullish note.

NEW: 🇺🇸 #Bitcoin ETFs saw $130 million in inflows yesterday, the largest in 3 weeks.

We are so back 🚀 pic.twitter.com/ahvdm0hoS2

— Bitcoin Magazine (@BitcoinMagazine) July 2, 2024

This marked the fifth straight day of positive flows and the highest daily amount since June 7th.

Much of Monday’s inflow went to Fidelity’s Wise Origin Bitcoin Trust, which saw $65 million enter the fund. Bitwise’s Bitcoin ETF took in $41 million, while Ark Invest’s fund attracted $13 million. The two largest Bitcoin ETFs, BlackRock’s iShares Trust and Grayscale’s fund, saw no flows.

The fresh inflows are a welcome sign after a tumultuous June that saw Bitcoin ETFs bleed nearly $1 billion in total outflows. The selling pressure mirrored Bitcoin’s price, which dropped below $20,000 briefly in June.

But historically, July has started a bullish period for Bitcoin. Over the last decade, Bitcoin has posted average returns above 11% in July, with positive performance 70% of the time.

Some analysts think seasonality could kick in again this July if spot ETF inflows persist. The theory suggests predictable cycles driven by investors selling around tax season and reentering the market later in the year.

Starting in July, Bitcoin could also face potential selling pressure from unlocked Mt. Gox coins. Its price trajectory depends on whether bullish seasonality can outweigh the bearish macro landscape.

Sony Group is preparing to launch a Bitcoin and crypto exchange in Japan after acquiring Amber Group’s local subsidiary, Amber Japan. The revamped exchange will be called S.BLOX and aim to boost Sony’s presence in the Bitcoin and crypto space.

JUST IN: 🇯🇵 $103 billion Sony to launch #Bitcoin and crypto exchange. pic.twitter.com/wUAE1l8eq5

— Bitcoin Magazine (@BitcoinMagazine) July 1, 2024

Sony purchased Amber Japan in 2023 through its subsidiary Quetta Web. Amber Japan was originally known as DeCurret before Singapore-based Amber Group took over the Japanese exchange in 2022.

Sony has rebranded its acquired exchange as S.BLOX and plans to upgrade its user interface and mobile app significantly. The exact launch date remains unannounced.

The move reflects Sony’s growing push into Bitcoin and crypto. By leveraging the Amber Japan exchange, Sony can capitalize on its brand recognition and global reach to boost the adoption of its future Bitcoin and crypto offerings.

Japan has emerged as a leading Bitcoin market due to proactive regulation and high consumer awareness. This makes it an ideal place for Sony to debut and expand services.

Major corporations like Sony embracing Bitcoin and crypto signal wider mainstream momentum. Sony’s past acquisitions of companies like CBS Records and Columbia Pictures transformed it from an electronics firm into a global media titan. Its latest acquisition could spark a similar evolution for Bitcoin.