In Beijing, a court rejected Bitmain’s appeal against the Poolin mining pool, but ordered its co-founders to pay a fine. According to CoinDesk.<\/p>\n
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\n\u201cWe are glad this is finally over. Now we can focus on the business,\u201d commented Poolin vice president Alejandro de la Torre.<\/p>\n<\/blockquote>\n
The equipment maker sought $30 million from Poolin’s co-founders for breach of the non-compete agreement. The court refused the claim, but ordered the defendants to pay a total fine of $532,000 for breach of the contract terms.<\/p>\n
Poolin mining pool emerged in 2017 after Pan Jibiao, Li Tianzhao and Zhu Fa left Bitmain. At the time, the companies signed an agreement: for two years the miner would pay Poolin $2,780 a month for refusing to open the pool for Bitcoin mining.<\/p>\n
In 2018 the pool breached the contract. Later, its representatives claimed that Bitmain had delayed the payment of compensation, releasing the other party from liability.<\/p>\n
Initially, the equipment maker had sought from former employees $4.3 million and 26,825 BTC, which it considered proceeds from the breach of the agreement.<\/p>\n
The amount claimed was deemed excessive by the court. By the ruling, Bitmain was awarded 1.2 million yuan (about $170,000).<\/p>\n
Subsequently, Bitmain’s claims against Poolin grew to $30 million. But the plaintiffs’ lawyers could not prove that Bitmain’s losses were greater than the penalties.<\/p>\n