Micree Zhan attempts to regain control of Bitmain

by in Cryptocurrency News

Bitmain Micree Zhan

Bitmain, the largest producer of mining equipment for Bitcoin, has published an official statement condemning ex-CEO Micree Zhan. This is reported by The Block, citing Bitmain's post on Weibo.

Related: Ex-CEO of Bitmain Micree Zhan again sues the company

The statement said that Zhan ignored the interests of the company and all employees and specifically filed a lawsuit during the pandemic, which interfered with its normal operation and affected its growth.

In March, Zhan filed another lawsuit against Bitmain, claiming that he owns a 36% stake in a subsidiary of Fujian Zhanhua. Earlier it was reported that the court froze the assets of Bitmain in the amount of 3.6 million yuan (about $514 thousand) in Fujian Zhanhua the same 36% of the shares of Fujian Zhanhua for 10 million yuan.

Bitmain also emphasized that this decision does not mean that the court sided with Zhan, but is “exclusively procedural” and not final. The company also considers Zhan’s claim of a 36% stake unfounded.

Recall, the conflict between Zhan and the other founder, the current CEO of the company Jihan Wu, has been going on for several years.

In late October, Zhan was stripped of all posts in the company, after which he tried several times to regain control of Bitmain.