June 28, 2022

The continuing power struggle involving the co-founders of cryptocurrency mining hardware maker Bitmain, Micree Zhan and Jihan Wu, has allegedly seen 10,000 Bitcoin mining rigs be “illegally moved” out of a company owned facility in Mongolia.

As outlined by a post printed on Bitmain-owned Antminer’s WeChat channel, former personnel settled 10,000 Antminer mining devices away from the mining facility. The magnetic energy generators, which include the flagship S9 microwave models as well as the T17 and S17 miners, were reportedly settled doing July and brought about “serious economic losses to the manufacturer and also customers.”

The event has reportedly been claimed to authorities, as several of the mining devices belonged to Bitmain clientele that chose to get the mining hardware of theirs be operated and hosted at its mining farms, while revealing its revenue. Over an article printed on Bitmain’s Weibo account, Micree Zhan accused Wu to become to blame for the “illegal transfer” of this bitcoin mining equipment.

At the middle of the struggle involving the two co-founders will be the location of Bitmain’s legal representative. When it comes to October 2019 Wu ousted Zhan, inside an action the latter claimed was really a bid for an “illegal power seizure.”
Also read: Bitmain Co-Founder Micree Zhan Threatens Legal Action Following Sudden Outing

Both Bitmain co founders have since that time been embroiled within a public war over influence of this cryptocurrency hardware manufacturer, with Bitmain’s chief financial officer being arrested in May of this season for allegedly participating in an “attack” on Zhan, after he attempted to acquire control over Bitmain’s Chinese subsidiary by purchasing the role of the legal representative of its.

Found in response to the alleged encounter, guards were selected by Zhan to forcibly seize control of Bitmain’s office area found Beijing. E also pursued authorized behavior to more his attempts. The maneuver watched Bitmain’s Weibo account reaffirm Zhan is actually taken out of his position since the firm’s legal representative.

The dispute between Zhan and Wu is believed to get begun more than different notions on Bitmain’s long term. While Zhan feels the tight should diversify and begin to offer silicon specialized towards synthetic Intelligence, Wu has fought for this to get cryptocurrency mining-related activities.