Bitmain, the world's largest Bitcoin (BTC) mining {hardware} firm, is suspending its product orders amid on-going inside conflicts.
As formally introduced on Aug. 6, Bitmain will probably be delaying their June and July 2020 Antminer orders by no to a bit degree two or three months because of "external interference on company operation." According to the announcement, the orders will probably be tabled till September or October 2020 "at the earliest."
Bitmain drama is in charge
While Bitmain is citing "external interference," some business specialists are assured that the delay is due to to inside points on the firm.
Dovey Wan, institution confederate 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 collection of controversial occasions began in October 2019 when Bitmain's largest shareholder, Zhan, was pink-slipped by Wu. Zhan later chased authorized motion in his bid to regain direction over Bitmain and publically opposed layoffs on the firm.
The drama at Bitmain took one other twist in late July when Zhan publically accused Wu of stealing 1000's of Antminers. In a Weibo publish, the ousted Bitmain co-founder accused Wu of "illegally" shifting 10,000 mining {hardware} units from a company-owned mining facility in Mongolia.
As the Bitmain co-founders' battle continues, Wan tweeted:
"Bitmain Drama hampers its normal business finally [...] Bitmain pre-sales team just post an announcement nowadays expression "due to external interference on company operation .." their June/July orders have to table to Sep/Oct the earliest [...] Imagine you are Bitmain pre-IPO investor now."
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