Bitmain delays AntMiner shipments amid ongoing battle between co-founders

Mining • August 6, 2020, 5:00AM EDT
UPDATED: August 6, 2020, 5:08AM EDT
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Bitcoin miner manufacturer Bitmain has delayed shipments by three months as its co-founders, Jihan Wu and Micree Zhan Ketuan, continue to fight for control of the company.

The official WeChat account of Bitmain's AntMiner brand posted the news on Thursday, saying that "external interference over the company's management" has caused the delay. Wu's team reportedly controls the WeChat account.

Customers whose orders were due in June and July will have to wait until September and October.

To compensate delays, Bitmain is offering two options to its customers, or bitcoin miners. First, cash coupons equivalent to theoretical mining revenue between now and the actual delivery date. Those coupons could be used to pay for future orders. The second option is refunds, provided miners don't receive their shipments 60 days after their written notice to Bitmain.

Thomas Heller, global business director at bitcoin mining pool F2Pool, suggested miners to shift to machines from Bitmain rivals MicroBT and Canaan.

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Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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