Bitmain delays shipments of its Antminer bitcoin mining machines by three months.

Chinese Bitcoin mining machines manufacturer Bitmain has delayed shipments of mining machines by three months as co-founders continue to fight for power.

According to a post on Bitmain’s official Wechat account, the Chinese bitcoin miner manufacturer said customers whose orders were supposed to deliver in June and July would have to wait until September and October. Those bitcoin mining machines are typically ordered three months prior to delivery. The Chinese manufacturer has delayed the shipment by three months, which means the delayed shipments may have been ordered around March, making this a six-month wait for the affected bitcoin miners. 

 

The delay is a result of external interference over the company’s management. 

Bitmain said in the announcement that the delay in the shipment is a result of “external interference over the company’s management.” Jihan Wu is reportedly in control of the company’s WeChat account that made the announcement. The Chinese bitcoin mining machine manufacturer is offering two options to its customers as compensation for delays in the shipments. The first option offers customers to write to the company requesting that deliveries are fast-tracked. If customers do not receive the equipment after 60 days of submitting the request, customers can ask for a refund.

The second option offers customers cash coupons equivalent to theoretical mining revenue between now and the actual delivery date. Those cash coupons could be used to pay for future orders. However, both options can not be exercised together. 

 

Co-founders of Bitmain continue to fight for power. 

Co-founders of Bitmain Jihan Wu and Micree Zhan are currently engaged in a bitter struggle for the company’s control. The two co-founders owned and ran the company together for many years, but Zhan was abruptly removed from the firm by Wu last October in controversial circumstances. Earlier this year, a court in China ruled in favor of Zhan, allowing him to return to power in the company to some extent. Zhan owns a 37% stake in the company and has now assumed control of Bitmain’s Shenzhen-based operations.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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