About 10,000 Antminer miners were removed from the Bitmain mining farm in the Chinese province of Inner Mongolia. Former Bitmain CEO Mikri Zhang blames Jihan Wu for this.
In mid-July, ASIC miners were smuggled out by former Bitmain employees. As a result of these actions, the company and its customers suffered enormous damage. Some miners prefer not to work independently, but to place equipment on the Bitmain mining farm for a monthly fee and a certain percentage of the proceeds. Many of these devices were taken to unknown destinations, including those owned by Bitmain.
This farm is controlled by Bitmain’s Fujian Zhanhua Intelligent Technology Company. According to information from open sources, the division is headed by Micree Zhan. Zhang opened the firm to manage his own Bitmain bank account, as he cannot control the official Bitmain accounts held by co-founder Jihan Wu. Zhang accused of illegally exporting thousands of Antminer Jihan Wu.
Although Zhang runs the Beijing office and factory in Shenzhen, Bitmain’s legal representative is Jihan Wu, who runs Bitmain’s parent company. Jihan Wu reportedly cut off chip shipments from the Taiwanese company to Bitmain’s factory in June. In the same month, Zhang blocked the supply of equipment from a factory in Shenzhen, affecting the company’s customers waiting for the Bitmain products they had already paid for. Blockstream’s Director of Strategic Affairs Samson Mow spoke of the situation as follows:
“Don’t buy or partner with Bitmain if you don’t want to get caught in the crossfire in a civil war. And the war is only heating up, ”- wrote Samson Moe on Twitter.
The disagreement between Mikri Zhang and Jihan Wu began last fall, when Wu returned to the post of CEO during Zhang’s absence, relinquishing his duties. Zhang has already filed several lawsuits to reinstate himself, but the battle for Bitmain is not only in court. In May, Zhang was attacked , and then he nearly lost his license as the legal representative of the Beijing branch of Bitmain. With this license, Zhang was able to take back Bitmain’s Beijing office with the help of private security guards.