Bitmain Delays Miner Shipments Amid Internal Company Dispute

The mining giant Bitmain has postponed deliveries of equipment for orders placed in June–July to the autumn. Dovey Wan of Primitive Ventures said, citing a company statement.

#BitmainDrama hampers its normal business finally

Bitmain pre-sales team just post an announcement today saying «due to external interference on company operation ..» their June/July orders have to postpone to Sep/Oct the earliest

imagine you are Bitmain pre-IPO investor now pic.twitter.com/siQRniHDd3

— Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) August 6, 2020

The Bitmain sales department has just published an announcement stating that “due to external interference in the company’s affairs…” deliveries on orders placed in June/July are postponed at least until September/October. Imagine yourself in the shoes of an early Bitmain IPO investor, Wan wrote.

In late July, Bitmain co-founder Micree Zhang accused his partner Jihan Wu of stealing 10,000 miners from one of the company’s farms. Most of the devices belonged to customers.

The conflict between co-founders Micree Zhang and Jihan Wu intensified last autumn when Wu, backed by shareholders, removed Zhang from all posts in the company.

After the first unsuccessful attempt to retake control of Bitmain in December last year, Zhang gradually managed to do so with respect to the company’s key business units.

By the end of June, media reports said the co-founders discussed settling the dispute, but no compromise on all disputed issues was reached.

In mid-July Zhang pledged to bring Bitmain to the stock market within a year.

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