Co-founder of Bitmain launches another lawsuit to regain the role of CEO

Micree Ketuan Zhan, the co-founder of the leading mining hardware producer Bitmain, launched another lawsuit in an effort to regain its position as the company’s CEO.

According to a court in Fujan Province, Zhan has filed a lawsuit against Bitmain’s subsidiary Fujian Zhanhua Intelligence Technologies and Beijing Bitmain Technologies.

A hearing on the case was initially scheduled for February. 11. Fujian Zhanhua Intelligence Technologies still mentions Zhan as its legal representative and is one of the four most important subordinate entities that have made a significant contribution to Bitmain’s financial results in its IPO deposit in Hong Kong in 2018.

Zhan has also initiated legal proceedings against the stakeholders of Bitmain in an attempt to regain control of his voice over the company.

Zhan’s conflict with the shareholders of Bitmain emerged in October 2019, when the company’s co-founder, Jihan Wu, announced in an email that Zhan had left the company. The email said, “Bitmain’s co-founder, chairman, legal representative and executive director Jihan Wu has decided to dismiss all roles of Ketuan Zhan with immediate effect.”

At the time, Zhan said he did not leave the company and was in fact removed as a legal representative of Bitmain without his permission. He warned those who had robbed him of his control of the company:

“I will fight for her until the end with legal weapons. I do not allow those who want to plot against Bitmain to succeed. If someone wants a war, we’ll give him one. “

Wu also warned company staff that if they attend meetings organized by Zhan, their employment may be terminated.

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Notes: 0Audience: 3319Registration: 11-07-2018

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