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

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

: Exited to lead the newly independent spinoffs: 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) : An international mining farm and cloud computing

A new five-member board was established, with Zhan appointing three members and Wu appointing two. Strategic Business Split The conflict between co-founders Jihan Wu and Micree

: Wu officially resigned as Bitmain’s CEO and Chairman.

To settle the dispute and streamline the company for a future IPO, Bitmain's businesses were divided between the two founders:

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