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Bitmain confirms removal of Micree Zhan and threatens legal action

May 27, 2020

Bitmain, the mining machinery manufacturer, made two simultaneous statements about his shamed co-founder Micree Zhan, Confirmation of his release in October last year.

The statements were released on May 27 on both Weibo and the Bitmain website. Both reaffirmed that Micree Zhan, former president and legal representative of the company, he was removed from office by a shareholder decision on October 28, 2019. On November 5, the company approved the decision of the CEO of eliminate Zhan completely the administration.

The company further states that Zhan You have no right to act as a legal representative Company or communications and instructions to company employees. Because it previously acted as such against the “shareholder decision”, the company has he even claimed to have taken legal action against Zhan.

Bitmain confirms removal of Micree Zhan and threatens legal actionBitmain confirms removal of Micree Zhan and threatens legal action

Finally, the statement asked all managers and employees to do so ignore any request from Zhan, Threat to take legal action for non-compliance.

This is similar to the original statements made by Jihan Wu the day of Zhan’s expulsion, then threaten employees with notice for acting on Zhan’s request.

Evil power struggle

One of the likely reasons why the confrontation between Zhan and other Bitmain shareholders continues after seven months This is due to the company’s high level of control. According to reports Zhan owned twice as many stocks as Wu, However, their participation appears to have declined significantly since the events. Zhan raised two lawsuits against Bitmain to regain your position.

The confrontation peaked in May when reports from a street fight between Zhan and Bitmain’s current legal representative, although it appears to have been less dramatic than originally thought.

Bitmain fight to the end

The new statements seem to suggest this The company is still fighting for control and market share in the midst of the crisis. Given Zhan’s earlier statements against the mass layoff of 50% of employees, the co-founder can continue to have the confidence of the company’s employees.

This has now been confirmed a batch of the last ASIC miners Bitmain S17 had problems after several reports from social networks.

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