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Bitmain’s struggle continues as Zhan reportedly slows ASIC deliveries

June 10, 2020

To physically take control from the Bitmain office in Beijing, Dismissed CEO Micree Zhan regains control and blocks product delivery Bitmain from its factory in Shenzhen.

According to BlockBeats sourcesZhan issued an order prohibiting employees from shipping products Bitmain customers. The reason for this remains unclear.

As Cointelegraph previously reported, Zhan appears to have regained the position of legal representative the Chinese mainland Bitmain subsidiary, which is formally owned by a holding company in Hong Kong that remains under the control of Jihan Wu.

Jihan Wu’s answer

Bitmain’s struggle continues as Zhan reportedly slows ASIC deliveriesBitmain’s struggle continues as Zhan reportedly slows ASIC deliveries

A statement from Jihan Wu tried to reassure the staff on June 9th that the situation Is under control. ANDThe co-founder said they are solving the situation legally, referring to the unspecified damage caused by Zhan.

The rest of the statement assures employees of this Bitmain will compensate you for any damage you may suffer. and asked them to “work together to protect Bitmain”.

The statement appears to be a reflection of the long argument between Zhan and Wu, who want the support of the company’s employees.

Past history

The confrontation between Zhan and Wu started in October 2019 when he claimed to have returned to Bitmain’s helm to “save the ship” and drive Zhan away.

Zhan claimed that this was illegal and then began a long struggle to return to the top of the company, bringing several lawsuits.

The situation for Wu appears to have worsened in May after reports of it surfaced A fight broke out in Beijing remove the company’s official seal. However, various reports show that this was a heated confrontation rather than a total struggle.

In late May, Bitmain released a statement that was simple affirmed Zhan’s expulsion, This indicates that the situation was not as safe as it seemed.

At the recent actions in June, Zhan gained ground in the confrontation when resorted to violence, and now it seems to be got enough control to stop at least partially Bitmain’s operations that previously worked normally.