It is not hard obviously to sell stuff that does not exist...sorry for your loss...
Yeah, looks pretty bad. However, I think, that his electronics project may still actually exist... and if it does, I'm pretty sure it doesn't mine anything. Just prints out some pretty numbers on screen. And people will come to realize that when they plug the thing in.

At least playing time is what scammers are great at doing (in addition to scamming people out of their hard earned money). He'll be able to generate tracking numbers, and maybe play time for a few weeks by claiming that it's a faulty unit, returns etc... before everyone realizes it's a paperweight.