Bitmain Co-founder Exits, Resolving Years-long ... -

The years-long power struggle at Bitmain, the world’s largest Bitcoin mining hardware manufacturer, was officially resolved in . The conflict between co-founders Jihan Wu and Micree Zhan , which involved multiple lawsuits and even physical confrontations at government offices, ended with a $600 million settlement and a formal corporate split. Key Settlement Details (January 2021)

The purchase was financed through a from Bitmain’s cash reserves and $200 million in outside funding.

: Micree Zhan purchased nearly half of Bitmain’s shares from a group of founding shareholders (including Wu ) for $600 million . Bitmain Co-Founder Exits, Resolving Years-Long ...

: Exited to lead the newly independent spinoffs:

: Retained the hardware manufacturing business and the Antpool mining pool. The years-long power struggle at Bitmain, the world’s

: Zhan resumed control of Bitmain’s core manufacturing and China-based operations.

A new five-member board was established, with Zhan appointing three members and Wu appointing two. Strategic Business Split : Micree Zhan purchased nearly half of Bitmain’s

: An international mining farm and cloud computing platform with operations in the U.S. and Norway.