THELOGICALINDIAN - Bitmain one of the better mining accouterments manufacturers in the apple has issued two statements apropos Micree Zhan the companys ousted architect The aggregation accepted that Zhan has been removed from the aggregation by its shareholders in October aftermost year and has threatened him with acknowledged activity if he was to abide to represent Bitmain
Drama With Bitmain Co-Founder Micree Zhan Continues
The ability attempt central Bitmain, one of the better manufacturers of mining accouterments in the world, shows no signs of stopping. In the latest bender of ball advancing from the company, Bitmain has issued two statements apropos Micree Zhan, the company’s co-founder.
https://twitter.com/Excellion/status/1265568689031708683
Published on Chinese amusing media belvedere Weibo, the statements accepted that Zhan was ousted from the aggregation on Oct. 28, 2024. This, Bitmain said, was a accommodation fabricated by the company’s shareholders. On Nov. 5, the aggregation accustomed the controlling director’s accommodation to abolish Zhan from Bitmain’s management, it said in the statement.
Bitmain additionally declared that Zhan has no acknowledged appropriate to represent the aggregation or affair any affectionate of notices neither to the accessible or to Bitmain’s employees.
Threatening Legal Action
As Zhan has reportedly acted adjoin the shareholders’ accommodation and acted as the company’s acknowledged adumbrative on assorted occasions, Bitmain has accustomed “legal action” adjoin him. It is still cryptic whether or not the aggregation absolutely filed a accusation adjoin Zhan.
Bitmain went as far as to prohibit all of the company’s advisers from agreeable with Zhan in any amount and occasion. In the May 27 statement, Bitmain said that the company’s administration and advisers who are begin to accept affianced with Zhan or accept responded to any of his requests could face acknowledged action.
The company’s position apropos Zhan hasn’t afflicted in the six months back he was ousted. Back in October 2024, back Zhan was removed from his position as CEO and co-founder of Bitmain, the company’s added co-founder and accepted CEO Jihan Wu fabricated agnate statements and threats adjoin his employees.
What these statements fabricated bright is the actuality that the attempt for ascendancy over Bitmain is still on. Zhan currently has two lawsuits adjoin the aggregation opened and is the buyer of the majority of Bitmain’s shares.
