Jihan Wu has officially resigned from Bitmain; the companies internal struggle for power has come to an end and Micree Zhan is official in control.
Over five digital currency companies have expressed interest in going public–experts warn that both equities and digital currency are in a bubble.
The company plans to use the proceeds from this recent capital raise to pay for the ASIC miners it ordered from Bitmain Technologies Inc.
Bitmain co-founders Jihan Wu and Micree Zhan reportedly reached a settlement that ends their messy long-running feud around who will control the blockchain giant.
Core Scientific is planning to increase current capacity by threefold by purchasing over 58,000 ASIC hardware miners from Bitmain.
Lawyers representing Bitmain Technologies disclosed at a recent court hearing that the ASIC mining hardware manufacturer recorded a loss of nearly $60 million in 2019.
While the Crypto Crime Cartel is far-reaching, the BCH network is becoming a regular feature in the emerging criminal scandals.
Jihan Wu has reportedly regained some control over the dysfunctional block reward mining hardware manufacturing company he helped found.
Bitmain's decision to use 5nm chips in its new mining rigs met with some backlash from block reward miners and industry skepticism.
A Beijing court has denied Bitmain the $30 million in damages they were seeking from three Poolin co-founders for violating a non-compete agreement.
Industry titans Bitmain and Ebang were among those listed that felt the new policy initiative's sting, according to recent reports.