Micree Zhan Says He’ll Take Legal Action to Return to Bitmain

Bitcoin mining giant Bitmain’s co-founder Micree Zhan, who was abruptly ousted from the company last week, said he’s going to take legal action to secure his return to the firm. In a letter posted on his WeChat feed Wednesday, Zhan publicly addressed what he described as a coup without consent for the first time. Last […]

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Bitmain Lawsuit Seeks Millions from Staffers Who Founded Rival Mining Pool

The Takeaway Bitmain is suing three former employees who started Poolin, a rival to the chip manufacturer’s BTC.com mining pool. The company is seeking $4 million in damages, alleging the Poolin co-founders violated their non-compete agreements; The former employees say Bitmain voided the non-compete by failing to pay them on time as agreed. The case offers […]

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Crypto Mining Giant Bitmain’s IPO Application Has Officially Expired

Cryptocurrency mining equipment maker Bitmain’s application for an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX) has officially lapsed, meaning no such transaction is happening anytime soon. According to an update on the HKEX’s website, Bitmain’s case has been moved to a group of “inactive” applications and is now labeled as lapsed, six […]

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Bitcoin Miners Are Investing Again, Expecting a Cheap Power Boom Soon

Bitcoin miners in China are buying used equipment and making deals with mining farms and hydroelectric plants, betting abundant water this summer will make their businesses profitable again. That’s because during this season a significant amount of excess electricity is expected to be generated by hundreds of hydropower stations, especially in China’s mountainous southwestern provinces […]

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Layoffs Underway Amid ‘Adjustments,’ Bitcoin Miner Bitmain Confirms

Months after it filed an application to go public on the Hong Kong Stock Exchange, Beijing-based cryptocurrency mining giant Bitmain is undergoing a series of business changes that extend even to its China offices, the company confirmed Tuesday. “There has been some adjustment to our staff this year as we continue to build a long-term, […]

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