Internal Bitmain feud behind the alleged theft of 10,000 Antminers
The Bitmain feud doesn’t seem to be extinguishing soon. The disappearance of 10,000 Antminers from a Mongolia-based subsidiary of Bitmain sent shockwaves through the crypto community. The disappearance of T15 and S17 Antminer models from Maker Cloud Computing Co. Ltd., the Mongolia-based mining facility, and a subsidiary of Bitmain was reported amid the ongoing power struggle in the Bitmain leadership.
The current Bitmain feud involves Micree Zhan and Jihan Wu, both of whom are fighting to wrest to control of the company. Therefore, the latest alleged Antminers theft gives a whole new twist to the whole leadership battle. The Antminers disappearance comes when Zhan is contesting his alleged illegal ouster from the world’s leading ASIC mining rigs manufacturer brand.
The disappearance of 10,000 Antminers a fallout of Bitmain feud
The official announcement from the Bitmain team mentions that 10,000 Antminer rigs were transferred from the Inner Mongolian facility. The statement does not include information on exactly which models were stolen.
The struggle for the top seat at Bitmain began when Wu stated that Zhan was obstructing the mining rig delivery reportedly coming from the Shenzhen factory. An internal letter sent by Wu mentions that Zhan’s coterie has transferred the mining rigs. On the contrary, Zhan has said that Wu orchestrated the transfer by using the Bitmain Weibo account. The approximate value of the transferred rigs is stated to be around $10 million.
Bitmain feud refuses to mellow down
The world-famous ASIC mining rig manufacturer, Bitmain, has faced its fair share of controversies in the past too. For example, Bitmain’s Singapore unit was entangled in trademark filing regarding the Antminer name. In another instance, the company announced that its employees must adhere to the non-compete clause.
Bitmain’s competitors are rising fast, and if this internal Bitmain feud is not resolved, it can pose a danger to the company’s current market share in the ASIC mining realm. The crypto community is looking forward to the resolution of these disputes. Even though an unceremonious decline of Bitmain is hardly a possibility, crypto mining won’t be affected significantly.
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