Tensions rise at Bitmain as the confrontation goes physical

The crypto mining hardware maker, Bitmain, is one of the largest companies supplying the miners of the crypto industry. However, it is also filled with controversial developments.

Last year in October, its co-founder, Micree Ketuan Zhan, got exiled from his position at the company. He was exiled by Jihan Wu, another co-founder.

What happened?

However, Zhan recently got a chance to recover his status, and become the firm’s legal representative. After a partial legal victory, however, tensions within the company went sky high, and even escalated into a physical brawl.

According to reports, earlier this morning, Zhan visited the Beijing Haidian District Justice Bureau. His goal was to collect his registration license, which he requires as part of the recovery process. However, he found himself surrounded by several dozen men, among which was Liu Luyao, Bitmain’s CEO.

A source who was present at the scene revealed that the officials attempted to grant Zhan the license. However, before they could do it, Liu acquired it first, stating that the license is the property of the company. As such, it should not be held and controlled by an individual.

The incident escalated quickly after that, as confirmed by a circulating WeChat video. The confrontation quickly went physical, and the incident was reported to the police. The local law enforcement officers arrived quickly, taking both parties to the police station.

Bitmain refuses to accept Zhan

The brawl is only the latest event in the internal struggle for leadership and power over the firm. This was not Zhan’s only legal victory, either. He made another one only one month earlier. Meanwhile, Bitmain’s officials are urging the Justice Bureau not to reverse Zhan’s status. They claim that doing so is a ‘mistake’ and that it has violated China’s law severely.

The company made an official statement saying the following:

“We recognize Liu Luyao as the currently effective legal representative of Beijing Bitmain. During this period, we will not acknowledge any action taken by Zhan Ketuan as a legal representative of Beijing Bitmain and reserve the rights to file legal claims against Zhan and related parties.“

It appears that the company will not accept Zhan’s return calmly, and the fight is likely far from over.