Bitmain
11 posts
In a new twist in Bitmain’s ongoing power struggle, co-founder Jihan Wu has regained the legal representative status of the bitcoin miner maker giant. China’s business registration record update on Sept. 14 shows Wu has again become the legal representative and executive director of Beijing Bitmain Technology, the operating entity of Bitmain. Subsequently, Micree Zhan, the rival co-founder who was ousted last October by Wu but […]
Bitmain’s appeal to recoup $30 million in alleged lost revenues from Poolin has been denied, Digital Currency Group has acquired a retail-focused exchange and Venezuelan officials appear to have blocked access to Coinbase. Top shelf Bitmain bustA court in China has denied an appeal by bitcoin mining giant Bitmain seeking $30 million in damages from the three co-founders of Poolin, one of the world’s largest cryptocurrency mining pools, […]
Over 20 bitcoin mining farms in China’s Inner Mongolia have been stripped of electricity perks after a clampdown by the local government. A document issued by the Department of Industrial and Information Technology of the Inner Mongolia Autonomous Region on Aug. 24, obtained by CoinDesk, shows the government agency has required a local electricity trade company to disqualify 21 bitcoin mining farms from participating in energy […]
Company executives say Riot Blockchain is on track to become cash flow positive later this year. Source link
Matrixport has set up its own derivatives exchange and now wants to take on Deribit, the market leader for crypto options. Source link
The ongoing battle between the co-founders at Bitmain has now essentially hard forked the world’s largest bitcoin miner manufacturer into two different operations and supply chains for making its flagship AntMiner equipment. Wu Jihan, the co-founder who ousted his rival co-founder Micree Zhan Ketuan last year, registered a new entity on July 16 in Shenzhen, China. The new entity, called Guiji Yanghang, is a subsidiary of […]
Zhan Ketuan, the formerly-ousted Bitmain co-founder who returned to power earlier this month, is proposing a solution to end the firm’s internal war. In a letter Sunday, Zhan, who as Bitmain’s biggest shareholder owns 36% of its stock, offered to buy back shares possessed by his rival co-founder Wu Jihan, several founding members and some of Bitmain employees, at a company valuation of $4 billion. Wu […]
Its employees have been forced to choose sides but now Bitmain’s customers are also in the middle of the escalating power struggle at the world’s largest bitcoin miner manufacturer. Chinese crypto media BlockBeats reported on Wednesday that since his return in early June, once-exiled co-founder Micree Zhan has halted a Shenzhen subsidiary of the Beijing-based Bitmain from shipping bitcoin miners to its clients. A China-based mining […]
Founded in 2013, the Beijing-based Bitmain Technology remains at the center of the crypto economy. With its flagship AntMiner bitcoin mining equipment still dominating the hardware market and its mining pools accounting for about a quarter of the bitcoin network’s computing power, it retains a uniquely powerful place in the ecosystem of by far the largest cryptocurrency and blockchain project. That’s not to say it isn’t […]
After Micree Ketuan Zhan, the exiled co-founder of Bitmain, moved to reinstate his position after another partial legal victory over his former employer, tensions reportedly escalated into a physical brawl. According to a source close to Zhan, who was ousted by his rival co-founder Wu Jihan last October, the former executive was recently granted the right to recover his status as the legal representative of Beijing […]