Leadership Feud at Bitmain: 10,000 Antminers Go Missing in Inner Mongolia

Management Feud at Bitmain: 10,000 Antminers Go Lacking in Inside Mongolia

Experiences element that 10,000 Antiminers have been allegedly stolen from a Bitmain facility in China. Sources say that the lacking mining rigs concern the continued energy wrestle between Bitmain cofounders Jihan Wu and Micree Zhan.

Again in mid-June information.Bitcoin.com reported on the ability wrestle between the Bitmain cofounders. For a few years now Bitmain has been essentially the most dominant bitcoin ASIC mining rig producer.

Nevertheless, for fairly a while now the cofounders Micree Zhan and Jihan Wu have been at odds. Now regional reviews element that 10,000 Antminers value tens of millions have gone lacking or had been “illegally transferred” from a Bitmain mine in Inside Mongolia.

There isn’t a precise rely on each make that was taken however the 10,000 Antminers included miners just like the S9 Hydro sequence, S15, T15, S17 Professional, S17, T17, and a prototype mannequin.

The final time, the 2 cofounders had been allegedly quarreling, reviews famous that Zhan ostensibly was prohibiting deliveries stemming from the corporate’s Shenzhen manufacturing unit. The China-based publication 8btc highlights that final Friday an inside letter from Jihan Wu detailed that Zhan’s allies took the 10,000 miners.

Estimates say that the web value of all of the miners complete can be round $10 million. Regardless of the reviews of an inside memo from Jihan Wu, Zhan accused Wu of taking the lot of ASIC miners utilizing the official Bitmain Weibo account.

Monetary columnist Lylian Teng revealed that plenty of trademark filings have been filed for the identify Antminer. Public data point out the filings stem from Hong Kong and mainland China. Teng notes that the filings derive from Bitmain’s Singapore unit “Bitmaintech Pte.”

The feud over the huge quantities of producing tools and farms in China couldn’t come at a worse time for the corporate when Ebang lately filed for it’s U.S. IPO and Microbt is taking in a big market share. Folks thought the Bitmain cofounders might come to a settlement as a result of a leaked negotiation deal indicated the 2 tried to compromise.

Along with the management points at Bitmain Applied sciences, reviews additionally present there are alleged points with plenty of excessive rating Canaan executives as nicely. Moreover, 4 executives; Tu Songhua, Kong Jianping, Li Jiaxuan, and Solar Qifeng had been deleted from the corporate registry.

What do you consider the ability wrestle between Jihan Wu and Micree Zhan? Tell us what you consider this topic within the feedback part under.

Tags on this story
10000 Antminers, ASIC, ASIC rigs, Bitcoin mining, Bitmain, BTC, Canaan, Ebang, Inside Mongolia, Jihan Wu, Management Feud, Manufacturing, Micree Zhan, Microbt, mining, mining rigs, Energy Wrestle

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