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Bitmain Delays Antminer Shipments Amid Internal Conflicts

Bitmain Delays Antminer Shipments Amid Internal Conflicts

Bitmain, the world’s largest Bitcoin (BTC) mining {hardware} firm, is suspending its product orders amid ongoing inside conflicts.

As formally introduced on Aug. 6, Bitmain shall be delaying their June and July 2020 Antminer orders by not less than two or three months attributable to “exterior interference on firm operation.” In line with the announcement, the orders shall be postponed till September or October 2020 “on the earliest.”

Bitmain drama is in charge

Whereas Bitmain is citing “exterior interference,” some business specialists are assured that the delay is attributable to inside points on the firm.

Dovey Wan, founding companion of blockchain funding agency Primitive Ventures, tweeted that the delay was triggered by the continued battle between Bitmain’s co-founders — the ousted Micree Ketuan Zhan and present CEO, Jihan Wu. This sequence of controversial occasions began in October 2019 when Bitmain’s largest shareholder, Zhan, was dismissed by Wu. Zhan subsequently pursued authorized motion in his bid to regain management over Bitmain and publicly opposed layoffs on the firm.

The drama at Bitmain took one other twist in late July when Zhan publicly accused Wu of stealing 1000’s of Antminers. In a Weibo submit, the ousted Bitmain co-founder accused Wu of “illegally” shifting 10,000 mining {hardware} units from a company-owned mining facility in Mongolia.

Because the Bitmain co-founders’ battle continues, Wan tweeted:

“Bitmain Drama hampers its regular enterprise lastly […] Bitmain pre-sales staff simply submit an announcement in the present day saying “attributable to exterior interference on firm operation ..” their June/July orders should postpone to Sep/Oct the earliest […] Think about you’re Bitmain pre-IPO investor now.”

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