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Investors sue Washington state bitcoin mining magnate who they say bilked them for millions

Malachi Salcido, founder of Salcido Enterprises, used his expertise building large climate-controlled buildings to set up a bitcoin mining operation in the Wenatchee Valley. (GeekWire File Photo)

Investors who bet big on Malachi Salcido, a self-described bitcoin mining magnate, now claim the Washington state man busted his own business, and may have cost them millions of dollars.

A group of investors who sunk $8.5 million into Salcido’s bitcoin mining company, StepChange, claim the Wenatchee man misappropriated, embezzled or otherwise misspent $2.4 million in company money over three years. At one bitcoin mine that he owns, Salcido charged StepChange —

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