Bitmain Co-founder Exits, Resolving Years-long ... ★ Editor's Choice

A new five-member board was established, with Zhan appointing three members and Wu appointing two. Strategic Business Split

To settle the dispute and streamline the company for a future IPO, Bitmain's businesses were divided between the two founders: Bitmain Co-Founder Exits, Resolving Years-Long ...

: Micree Zhan purchased nearly half of Bitmain’s shares from a group of founding shareholders (including Wu ) for $600 million . A new five-member board was established, with Zhan

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) The conflict between co-founders Jihan Wu and Micree

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