According to Beijing-based BlockBeats, the ousted co-founder of Bitmain, Micree Zhan reportedly took control over the company’s Shenzhen factory and prevented Bitmain from shipping mining equipment to paying customers. According to news reports, Bitmain’s supplier team in Shenzhen has joined Zhan’s side of the battle as the ousted co-founder continues to fight for control over the company with Bitmain’s other co-founder Jihan Wu. Micree Zhan has reportedly intercepted the mining hardware that the customers have already paid for and is selling it to miners that are close to him.
Micree Zhan continues to fight his way back into Bitmain.
Later last year, Micree Zhan was abruptly removed from the company by the directors and the other co-founder Jihan Wu. Zhan complained that he was removed without his knowledge and consent. Following a recent decision by the local justice bureau to support Zhan’s side of the battle, Micree Zhan reportedly blocked the shipment of hardware to paying customers. The reports also claim that Zhan is unable to access Bitmain’s IT and finance departments in Beijing and is asking customers to send money before equipment can be shipped.
Bitmain power struggle continues.
It all started in October last year when Jihan Wu abruptly removed Micree Zhan and took over his position as Bitmain’s CEO and legal representative. The ousted co-founder has been working to reclaim his position in the company ever since. In April, a local justice bureau in Beijing sided with Zhan and reversed a previous decision that approved Bitmain’s move to dismiss him. As reported earlier, Micree Zhan hired a dozen security guards to enter the Bitmian’s Beijing office this month.
In a letter to Bitmain’s employees and shareholders, Zhan said that he had regained control over Bitmain’s office in China. This week, Zhan’s new human resources team reportedly removed a number of employees, including Bitmain’s CFO, director of the mining farm, and director of sales. On the other hand, Wu has issued a letter stating that Zhan has no legal rights to dismiss or hire any Bitmain personnel.
