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

: Zhan resumed control of Bitmain’s core manufacturing and China-based operations.

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

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

To settle the dispute and streamline the company for a future IPO, Bitmain's businesses were divided between the two founders: : Zhan resumed control of Bitmain’s core manufacturing

: Retained the hardware manufacturing business and the Antpool mining pool.

: A major mining pool was also transferred to Wu’s control as part of his exit. Background of the Conflict : Micree Zhan purchased nearly half of Bitmain’s

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