Micree Zhan hires private security guards to take back control of Bitmain’s China office.

The ousted co-founder of Bitmain, Micree Zhan, stormed Bitmain's China office with his many hired security guards to take back control of the company.

According to local news reports, bitcoin mining company Bitmain’s co-founder and CTO Micree Zhan, who was abruptly removed from the company last year, hired a dozen security guards to take back control of Bitmain’s China office. Primitive Ventures founding partner Dovey Wan tweeted out a video showing security guards forcing their ways into Bitmain’s office. She wrote, “Micree today led a team of private guards crashed Bitmain Beijing office … they broke in by brute force and tried to take back the control (after Jihan’s initial coup and series of outrageous behavior).” 

 

 

Jihan Wu threatened Micree Zhan with legal action if he tried to represent Bitmain. 

Earlier, Bitmain co-founder Jihan Wu had threatened Micree Zhan with legal action if he tried to represent the bitcoin mining manufacturer company in any way. Jihan also warned employees not to take any order from Zhan as he is no longer a part of the company. According to the news outlet BlockBeats report, Zhan sent out a letter to Bitmain shareholders and employees, stating that he had taken control over Bitmain’s office in China and that he was encouraging employees to return to work. Earlier, it was reported Micree Zhan was involved in a physical confrontation with Bitmain’s staff. 

 

Micree Zhan says he would progress Bitmain towards an IPO. 

In his letter to shareholders and employees, Micree Zhan apologized for the recent issues at the company and said he would progress Bitmain towards an IPO. He hopes to make Bitmain worth $50 billion within the next five years. Earlier, Zhan had criticized the company for laying off half of its staff at the beginning of the year. However, the company continues to claim that Zhan has been removed from his position as the legal representative of the Beijing subsidiary of Bitmain, and a team of lawyers has been engaged to pursue legal action against him. 

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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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