Bitmain, the world’s largest Bitcoin Lifestyle mining hardware company (BTC), is putting off ordering products amidst ongoing internal conflicts.
As officially announced on Aug. 6, Bitmain will delay its June and July 2020 orders from Antminer for at least two or three months due to „external interference in the company’s operations. According to the announcement orders will be postponed until September or October 2020 „at the earliest“.
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The Bitmain drama would be responsible
Although Bitmain is claiming „external interference“, some industry experts are confident that the delay is due to internal company problems.
10,000 Antminers disappear in a new chapter of Bitmain’s power struggle
Dovey Wan, founding partner of the investment firm blockchain Primitive Ventures, tweeted that the delay was caused by the conflict between Bitmain’s co-founders – deposed Micree Ketuan Zhan and current CEO Jihan Wu. This series of controversial events began in October 2019 when Bitmain’s largest shareholder, Zhan, was fired by Wu. Subsequently, Zhan took legal action in his attempt to regain control of Bitmain and publicly opposed the layoffs at the company.
The Bitmain drama took another turn in late July when Zhan publicly accused Wu of stealing thousands of Antminers. In a Weibo post, the expelled Bitmain co-founder accused Wu of „illegally“ moving 10,000 mining hardware devices from a company-owned mining facility in Mongolia.
As the battle of Bitmain’s co-founders continues, Wan tweeted:
„Bitmain’s drama is finally hindering their normal work […] Bitmain’s pre-sales team just released an announcement today saying „due to outside interference in the company’s operation..“ their June/July orders have to be postponed to September/October […] Now imagine you’re a pre-IPO investor in Bitmain.