Ousted Bitmain’s Co-Founder Prepares Comeback Plan

BEIJING, China – Micree Zhan, the co-founder of Bitmain, will take lawful action to guarantee his comeback.

The Bitcoin mining company ousted Zhan, and he publicly posted on his WeChat account how it happened for the first time. He stated in a letter that it didn’t have any consent.

The co-founder of Zhan named Jihan Wu announced to all the staff of Bitmain that Zhan was dismissed from his roles last week. Wu sent an email about Zhan’s dismissal, and he also prohibited employees from participating with him.

On Tuesday, the power struggle between Zhan and Wu was revealed. This incident happened before the email of Zhan’s dismissal was sent to the staff.

According to Zhan, he stated on Wednesday that the company ousted him without prior awareness or consent. Now, he plans to fix the issue via legal ways. He also said that he’d face Bitmain in a law court if necessary.

Zhan didn’t provide responds or statements right away after the incident. He requested vast media outlets for comments, and among these companies is CoinDesk.

Zhan was a person who focuses on product and technology, so he shared how he didn’t expect to think about legal perspectives. He mentioned how embarrassing it was for him, as a co-founder of Bitmain, a registered legitimate representative, and a shareholder, to be kicked out. He also didn’t have any knowledge about the happening because he was on a business trip.

The co-founder also added how he didn’t realize that the scenes of backstabbing in television shows happen in actual life. The view was familiar for him, wherein he gets stabbed on his back by his trusted partners. He didn’t expect that his partners, who he considers brothers, will betray him.

Zhan didn’t state any name in the letter, and to whom it’s addressed. He assured his Bitmain shareholders and staffers about his return. He told them than his return back to the Bitcoin mining company is the soonest, and he’ll come back through lawful methods to finish the critical moment.

Zhan also mentioned the Bitmain was their child, and he will fight for it until the end by using lawful weapons. He also shared that he will not allow people who plan to plot alongside the company to triumph. He said that if a person yearns for war, they will grant it.

Aside from his statement about defending Bitmain, Zhan also shared how he foresees the company in achieving the goal. His team aims to dominate the bitcoin mining equipment market by 90 percent while growing the Al business.