Bitmain Civil War: Expelled Co-Founder Sends Open Letter to Bitmain Employees; Planning a Comeback Soon
November 7th, 2019
The Bitmain civil war continues. Ousted co-founder of the company, Micree Zhan has responded to the event with an open letter to the employees, sharing that he will return to the company soon and restore “normal order in the company”.
Micree Zhan is Embarrassed
The Bitmain drama came to light in the last week of October when crypto influencer Dovey Wan revealed that Bitmain’s co-founder and legal representative in China, Micree Zhan had been forced out from the company. Jihan Wu, the other co-founder, had taken over as Bitmain’s legal representative in China.
Zhan’s firing had made headlines in the crypto-sphere because it had been far more dramatic than regular firings. His email was deleted and he was barred from entering the company’s office by security. The staff in the HR department was replaced by Wu’s own people. Even the employees had been instructed to not take any orders from him or attend any of his meetings. According to Dovey Wan, Zhan’s firing looked more like a political coup.
Dovey Wan took to Twitter today to share Zhan’s response to the event. Zhan has written an open letter to the employees at Bitmain, and a translated version of extracts from the letter has been shared by Wan on Twitter. As per the letter, Micree Zhan is very embarrassed about what happened. Apparently, he is feeling betrayed about what was done to him while he was away on a business trip. He has even compared the event to a movie plot where a brother who had once been a “trusted partner” and fought alongside the protagonist turns into a foe and stabs the protagonist in the back.
Zhan is Ready to Give Wu a War
Zhan further said that Bitmain is his child and he will do his best to protect her. He will use “legal weapons” to disable schemes and conspiracies that hurt Bitmain. If Wu wants a war, then Zhan is ready to give it them. Wan was quite amused by this part and she compared it to a movie script.
Zhan Will Return to the Company Soon
Zhan has also shared that he will return to the company with legal support as soon as possible. He will put an end to this “extraordinarily dramatic period and restore the normal order of the company”.
Zhan Has a Vision of Achieving 90% Market Share of BTC Mining Machines
With his comeback, Zhan has grand plans for the growth of Bitmain. In the letter, he wrote that Bitmain will achieve the goal of 90% market share of BTC miners. He also said that their AI business will hit the 100 million yuan in revenue milestone in 2019, and he is expecting 1 billion yuan in revenue in 2020.
If Zhan will be able to make a comeback and achieve his plans remains to be seen. At the moment, it would be interesting to see how Jihan Wu and Bitmain’s employees respond to Zhan’s letter.