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Power Struggle Between Bitmain Co-Founders Escalates
Summary: The power struggle among Bitmain leadership has led to the creation of a competing entity for manufacturing AntMiner equipment, as reported by Coindesk. Wu Jihan, co-founder of Bitmain, ousted co-founder Micree Zhan Ketuan last year, but Zhan regained control of the company in June. Since then, Jihan has registered a new business in China, Guiji Yanghang, ...
The power struggle among Bitmain leadership has led to the creation of a competing entity for manufacturing AntMiner equipment, as reported by Coindesk.
Wu Jihan, co-founder of Bitmain, ousted co-founder Micree Zhan Ketuan last year, but Zhan regained control of the company in June. Since then, Jihan has registered a new business in China, Guiji Yanghang, which he intends to have build out a separate supply chain for AntMiner production.
The ongoing power struggle between the two founders has created confusion in the company's ranks and poses concerns over who owns the AntMiner brand. While the drama has been unfolding, the production of crypto mining equipment has become more competitive and Bitmain has fallen from the position as the highest-valued crypto company, a title it was awarded following a report from Hurun Research Institute in 2019.
By Emily Mason
Tags: Bitmain,Crypto Mining
Link: Power Struggle Between Bitmain Co-Founders Escalates [Copy]
