A Texas company that financed five of Bitwise Industries’ real estate acquisitions in California filed a lawsuit against the struggling tech firm, alleging it improperly sought out loans and was unauthorized in listing properties for sale. The lawsuit comes after Bitwise Industries furloughed its entire workforce amid suspected cash struggles. NICByte alleges that it partnered with Bitwise Industries via a joint venture in June 2022, with the Texas firm contributing 95 percent of the capital to acquire five buildings in Fresno, Bakersfield, and Oakland. The estimated sum, the firm alleges, was $35 million. 

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