Internal struggle for sole power in the company Bitmain has inflamed with new force. Now, the confrontation between Mikri Zhang and Cihan Woo threatens to undermine the process of manufacturing and delivering ASIC miners to the customers. In the official account of the Antminer in WeChat it was reported that the postponement of the dispatch of the equipment. Those asik, who was supposed to go to buyers in June and July, it will begin sending in September and October.
We will remind, struggle for an armchair of the General Director Bitmain between Mikri Zhang and Wu Jihan continues for a long time. This year it has gained new momentum — in fact the number came to power capture of the main office of the company in Beijing.
Because of the internal enmity, even the official contact with the firm was changed last month. Also Bitmain has a new Bank account and a website — all the handiwork of Mikri Zhang, which also claims the “throne” of the company. Naturally, the details of what is happening inside Bitmain beyond its limits and reach customers. We believe that this news about what’s happening enough to force people to look for new manufacturers of mining equipment.
Problems inside Bitmain
Translation of official statement the company published on Dowie van from Primitive Ventures. Here is a quote shared by the investor.
Sales Bitmain has just posted a message that “due to external interference in the Affairs of the company” delivery orders will be delayed until at least September or October. Now imagine that feeling early investors in the IPO Bitmain.
#BitmainDrama hampers its normal business finally
Bitmain pre-sales team just post an announcement today saying “due to external interference on company operation ..” their June/July orders have to postpone to Sep/Oct the earliest
imagine you are Bitmain pre-IPO investor now pic.twitter.com/siQRniHDd3
— Dovey 以德服人 Wan 🪐🦖 (@DoveyWan) August 6, 2020
This means that the customers will have to wait for delivery more than six months. Those asik, who was supposed to deliver in the last two months, customers Bitmain ordered back in March/April, according to Coindesk.
We will remind, it not the first problems with usikami within the company for the last time. In particular, at the end of July it became known about the disappearance of 10 thousand devices for mining cryptocurrency. They were on cryptocurrency farm in Inner Mongolia, and did not belong to Bitmain and miners who trusted their equipment and pay for its maintenance. In the end the company lost model Pro Antminer S17, S17, T17, S15, T15, S9 Hydro, Z11, and even some test prototypes.
As noted Jihan Wu, the blow dealt Mikri Zhang, who was in charge of the farm. It is obvious that what is happening is not good for the reputation of Bitmain. Read more about the situation read in a separate article.
Representatives of the Bitmain offer two ways out of this situation. The first users write to the company’s statement about the acceleration of delivery. If within 60 days after its filing they do not receive their purchase, they will be able to get a refund.
The second option is to wait patiently for autumn to get their ASIC miners. While Bitmain promises to “offset” lost income from mining during those months in the form of coupons for other purchases of goods of the company. How it will calculate that the lost profits have not yet been reported.
It seems like there is something that we talked about earlier. Now the confrontation between the two co-founders Bitmain is no longer just internal problems — they affect the users. It is obvious that such delay in the supply of impermissible even in the context of pandemic coronavirus. Most likely, customers will make the appropriate conclusions and move on to an alternative manufacturers ASIC.
Remember, some plant owners have already made a choice in favor of other companies. This was especially noticeable at the junction of 2018 and 2019, when Bitmain has lost the most market share and influence has expanded microBT. According to analysts, in 2019 recently sold 600 thousand units, which is approximately 35 percent of the industry.
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