Micree Zhan takes legal action to Bitmain

Posted 07 November, 2019

Miсree Zhan, the co-founder of the largest manufacturer of mining hardware Bitmain, intends to recover a lost position as the company’s CEO. The specialist published this information on his WeChat account. He said he’s going to take legal action to secure his return to the firm. 

“I have never thought that as a person focusing on technology and product, I have to start thinking from legal perspectives. It was embarrassing that as a Bitmain co-founder, the biggest shareholder, and a registered legal representative, I got ousted without any knowledge in this coup while on a business trip. I didn’t realize until then that those scenes in TV shows, where you get stabbed on your back by those partners you trusted and ‘brothers’ you fought together with, can really happen in real life.”- he wrote.

The specialist noted that Bitmain now occupies more than 90% of the market for the production of miners. Now the new division of the company is engaged in the creation of artificial intelligence. Revenues from projects of this type this year alone amounted to approximately $14.3 million. According to Zhan, with the industry developing properly next year, the company will be able to earn up to $143 million.

The co-founder of Bitmain at one time had a serious conflict with Jihan Wu. According to him, the latter accused him of “thirst for power” and “attempts to realize his own crazy ideas at the expense of others.” Zhan said he was going to defend his innocence.

Representatives of the current leadership of Bitmain have not yet commented on Zhang's statement. The developer himself intends to appeal to the court in the near future.

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07 November, 2019 16:05

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