On June 11, 2020, regional reports disclosed that the cofounder of Bitmain, Micree Zhan, is still battling with Jihan Wu in an ongoing feud. The quarrel is allegedly causing shipment problems for customers, as reports note that Zhan is prohibiting deliveries stemming from the company’s Shenzhen factory.

An account from the financial columnist, Vincent He, explains that the two cofounders of Bitmain continue to feud over the company’s operations. The report from China highlights that Bitmain’s internal issues may be delaying mining rig shipments for a number of customers. The report explains that Bitmain offers a coupon when delays happen, but “some buyers are disappointed.”

During the last week of May, news.Bitcoin.com reported on how regional sources disclosed that Micree Zhan was allegedly ousted. It was said that the cofounder was threatened with litigation if he interfered with company operations and was warned two times not to intervene with employees.

Following this move, new evidence suggests that Zhan took control over the official media account on June 10. The report also says that a new “HR” representative was “appointed by Micree Zhan.”

“Since Micree Zhan issued an open letter, at present, one-third of the employees have gone back to answer Micree’s call, mainly the employees of the [artifical intelligence] AI business,” Vincent He writes. “Through hindering the delivery of new miners, it is also [a] counterattack [by] Micree Zhan against the miner sales departments led by Jihan Wu. Up to now, the bargaining chips in Micree’s hands are Beijing Bitmian’s business license, official seal, and official media account.”

The recent issues follow Bitmain’s release of the Antminer T19 that processes at speeds of around 84 terahash per second (TH/s). At $0.04 per kilowatt-hour (kWh), the T19 is the fourth most powerful miner in the world out of the top five contenders.

In fact, Antminers represent four out of the five top mining rigs leaving only Microbt’s Whatsminer M3OS (86TH/s). The M3OS makes over $5 per day in BTC, while the Antminer T19 also makes around $5 per day at $0.04 per kWh at today’s BTC exchange rates.

The T19 is one of the newer models that may be affected by delayed shipments. Vincent He discussed the situation with Shi Pu, a bitcoin miner and Bitmain buyer, who said he was currently “angry and aggrieved.” According to statistics, the BTC network (SHA256) hashrate is holding strong at 107 exahash per second, and delayed shipments don’t seem to be affecting the current performance.

The Bitcoin Cash (BCH – SHA256) hashrate has increased since May 8, 2020, from 1.4EH/s to today’s 2.6EH/s. Similarly, Bitcoin SV (BSV – SHA256) hashrate has increased since April 15, 2020, from 1.4EH/s to 2.23EH/s today.

In terms of the overall SHA256 hashrate, mining operations are not experiencing any hashrate decline if there are any shipment delays. The Antminer S17 released in December and Antminer S19 released in May, seemingly shipped to destinations despite the Covid-19 delays that affected all the Chinese mining rig manufacturers and customers.

What do you think about the stories and quarrels involving Micree Zhan and Bitmain? Let us know in the comments below.

During the last few months in the midst of the coronavirus outbreak and faltering global economy, many individuals have shown an interest in bitcoin and other cryptocurrencies. However, oftentimes people can find the process a bit daunting because they are … read more.

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On June 24, the block explorer and blockchain data platform, Blockchair, announced the launch of a new privacy tool called the “Privacy-o-meter.” According to Blockchair, the new service combats blockchain surveillance companies by highlighting privacy issues for crypto transactions. This … read more.

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A new, comprehensive analysis has predicted the price of bitcoin to reach almost $20K this year and will keep rising to almost $400K by 2030. The researchers have also predicted the future prices of several other major cryptocurrencies, including bitcoin … read more.

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The most popular stablecoin, Tether, has propelled its way into the third-largest position by cryptocurrency market capitalization. At the time of publication, a number of market valuation aggregators show that Tether’s market cap is between $9.1 to $10.1 billion. Tether … read more.

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The UK’s top financial regulator has conducted a survey and found a “significant increase” in the number of crypto owners and awareness of cryptocurrencies. The regulator estimates that 2.6 million people in the country have bought cryptocurrencies, most of which … read more.

During the last few months in the midst of the coronavirus outbreak and faltering global economy, many individuals have shown an interest in bitcoin and other cryptocurrencies. However, oftentimes people can find the process a bit daunting because they are … read more.

A couple of months ago, a new WordPress (WP) plugin launched that allows anyone to host a digital currency trading platform. With the application, WP website owners can earn fees from various crypto asset trades. The developer of the plugin … read more.

Only 3.5 million bitcoin or 19% of total circulating supply is actively traded throughout the world, while the rest is being held long-term by investors, according to a new report by crypto analytics company Chainalysis. Per the report, nearly 18.6 … read more.

Investing in bitcoin has been somewhat of a phenomenon, as millions of individuals have invested funds into the crypto-economy since at least 2010. One specific and lucrative method of investment is dollar-cost averaging. If an individual was to invest $10 … read more.

Jim Rogers, who cofounded the Quantum Fund with billionaire investor George Soros, has shared his view on bitcoin, its use as money, and governments’ response to the growing use of cryptocurrency. He predicts that central banks will not let uncontrolled … read more.

This week digital currency enthusiasts have been discussing network fees, specifically transaction fees associated with the Bitcoin and Ethereum blockchains. Last Sunday on June 21, one Ethereum proponent noted that during the last 16 days, Ethereum users have paid more … read more.

On June 24, a Reddit post had a few Bitcoin Cash proponents discussing a number of privacy enhancements BCH supporters can leverage every time they transact. The Bitcoin Cash enthusiast, Mr. Zwet’s r/btc post explained how BCH supporters can use … read more.

US lawmakers have introduced the Lawful Access to Encrypted Data Act to ensure law enforcement can access encrypted information. This bill is “a full-frontal nuclear assault on encryption in the United States,” one expert says. It requires manufacturers of encrypted … read more.

Australian residents can now pay for bitcoin at more than 3,500 national post offices. The new service launched by Bitcoin.com.au is aimed at promoting cryptocurrencies to mainstream audiences, alongside established businesses and organizations. On June 24, 2020, the firm Bitcoin.com.au … read more.

During the last week, a number of bitcoiners have been discussing Venezuela’s Administrative Service for Identification, Migration, and Foreigners, also known as SAIME accepting bitcoin payments for passport applications and renewals. A number of crypto journalists couldn’t confirm whether or … read more.

The popular bitcoin analyst Willy Woo told his 132,000 Twitter followers that he’s working on a new pricing model that suggests a bull run is imminent. In fact, Woo says the model suggests bitcoin is close to “another bullish run” … read more.

Max Keiser believes that bitcoin naysayers like Jim Rogers, Mark Cuban, and Peter Schiff will go all-in and invest big in bitcoin when they understand it. He guarantees this to be the case, having predicted that the price of bitcoin … read more.

Jack Abramoff, the lobbyist behind one of the biggest Washington lobbying scandals as portrayed in the feature film Casino Jack, has been charged in connection with AML bitcoin cryptocurrency. He faces returning to jail after previously serving three and a … read more.

Crypto market skeptics and speculators are concerned about 789,000 ETH that started moving four days ago last Wednesday. The transaction was recorded by Whale Alert, and the $187 million worth of ether stems from the Plustoken scammers. On Wednesday, June … read more.

Federated Sidechains: $8M in BTC Stuck in Limbo, Analyst Says Action ‘Violates Liquid’s Security Model’

Liquid, the sidechain network developed by the company Blockstream, saw 870 bitcoins ($8 million) frozen in moderation queue due to a seizure from a number of the network’s functionaries. The founder of the Summa project, James Prestwich, explained on Twitter … read more.

With the fourth of July approaching, many Americans will have to contemplate whether or not the holiday is an empty affair. After the last thirteen weeks of Covid-19 lockdowns, business shutdowns, and police brutality, the lack of liberty and freedoms … read more.

The financial crisis in Lebanon has seen its currency, the Lebanese pound, fall 80%. The International Monetary Fund (IMF) has estimated that the country’s central bank has accumulated losses as much as 170 trillion pounds. The disagreement between the Lebanese … read more.

The infamous and controversial owner of the website bitcoin.org, Cobra, is under fire recently and a number of community members have asked to see the website removed from his possession. The initial argument was sparked by the website’s maintainer, Will … read more.

Decentralized finance (Defi) protocol ​Balancer was on Sunday hacked for more than $450,000 worth of cryptocurrency. In two separate transactions, an attacker targeted two pools containing Ethereum-based tokens with transfer fees – or so-called deflationary tokens. Pools with Sta and … read more.

On June 24, the block explorer and blockchain data platform, Blockchair, announced the launch of a new privacy tool called the “Privacy-o-meter.” According to Blockchair, the new service combats blockchain surveillance companies by highlighting privacy issues for crypto transactions. This … read more.

This month Bitcoin.com launched two services that help facilitate bitcoin cash adoption and crypto remittance via email. In a recent video on June 5, Bitcoin.com’s Roger Ver showcased gifts.bitcoin.com, a new feature that allows individuals to send BCH gift cards … read more.

U.S. contract mining firm Core Scientific has agreed on a deal to buy 17,600 mining rigs from Chinese bitcoin hardware maker Bitmain Technologies Inc. The company is buying Bitmain’s next-generation bitcoin (BTC) miner, the Antminer S19, it said in a … read more.

A new, comprehensive analysis has predicted the price of bitcoin to reach almost $20K this year and will keep rising to almost $400K by 2030. The researchers have also predicted the future prices of several other major cryptocurrencies, including bitcoin … read more.

The crypto industry in India is experiencing massive growth, according to a new survey of crypto banks and exchanges. Despite the country’s deepening coronavirus crisis, crypto exchanges say trading volumes and the number of signups continue to grow substantially. India’s … read more.

The amount of bitcoin that has not moved in over a year is at an all-time high. The last peak was in 2016, before the bitcoin bull run that saw the price spike to $20K. Several forecasting models have predicted … read more.

This week a number of Kleiman v. Wright lawsuit depositions have published and are now available for public viewing. One specific deposition with the former Bitcoin Core lead maintainer, Gavin Andresen, casts doubt on the claim that Wright is Satoshi … read more.

During the last seven days, the price of bitcoin has dropped 4.8% from a high of $9,700 on June 24, to a low of $8,965 on June 27. Since then the price has increased and the price per bitcoin is … read more.

Hut 8 Mining Corp. has raised $8.3 million from the sale of 6% of its shares to investors. The Canadian bitcoin miner originally intended to raise $7.5 million from the sale, but it was oversubscribed. Totonto Stock Exchange-listed Hut 8 … read more.

CryptoAltum, a popular MT5 platform, executes trades using market execution with all trades filled at the best available price in the market. The company uses Fill or Kill orders meaning orders are filled entirely at the best available price, with … read more.

The gold industry has been shaken after it was discovered that 83 tons of fake gold bars have been used as collateral for loans worth 20 billion yuan from 14 financial institutions to a major gold jewelry manufacturer in Wuhan, … read more.

On July 1, 2020, the popular eatery and bar in Japan, Brewdog Tokyo, started accepting bitcoin cash payments for products and services. The establishment is the third Brewdog bar to accept bitcoin cash, as the cryptocurrency is accepted at the … read more.

The second quarter of 2020 was very profitable for bitcoin investors, according to data analytics firm Skew. During the period, the top cryptocurrency climbed 42%, its fourth-best quarterly close since 2014. For the March quarter, the digital asset fell 10.6%, … read more.

The most popular stablecoin, Tether, has propelled its way into the third-largest position by cryptocurrency market capitalization. At the time of publication, a number of market valuation aggregators show that Tether’s market cap is between $9.1 to $10.1 billion. Tether … read more.

The founder of Freedomain, philosopher and alt-right activist, Stefan Molyneux, received more than $100,000 in cryptocurrency donations after he was banned from Youtube on June 29, 2020. Stefan Molyneux is well known for his Youtube videos, podcasts, and books. His … read more.

The UK’s top financial regulator has conducted a survey and found a “significant increase” in the number of crypto owners and awareness of cryptocurrencies. The regulator estimates that 2.6 million people in the country have bought cryptocurrencies, most of which … read more.