Bitmain, the manufacturer of the Bitcoin miner (BTC), has given a message to customers that business operations will resume as normal in light of the company’s chairman and former CEO Jihan Wu.
Requests for ASM mining platforms from Bitmain were temporarily suspended in 2020 due to an internal power struggle at a Beijing-based hardware company.
In a saga in which Bitmain founders Mikri Zhang and Wu tried to walk away from running the company, Zhang temporarily banned the Shenzen subsidiary from sending products to customers, according to local newspaper The Block Beats for some time.
On Wednesday, hours after Wu left the company peacefully (after buying $ 600 million in shares from Zhang and other shareholders), the team behind Bitmain’s flagship Antminer product released a statement telling customers that everything would be normal:
Antminer informs you that Bitmain internal changes will not affect product delivery and sales services. Our sales policy for clients remains unchanged, and all signed contracts will continue to be executed according to the terms. ”
Bitmain was founded in 2013 by Zhang and Wu, and in 2018 it became the largest ASIC Bitcoin mining machine manufacturer in the world. The company also operates two mining parks, Antpool and BTC.com, which together account for around 20% of all Bitcoin mining operations and 30% of Bitcoin Cash (BCH) operations.
The company’s impact has shown over the years that it has been at the forefront of many Bitcoin-related dramas, not least given the hard fork in 2017, when Bitcoin Cash split from Bitcoin. Bitmain went to Bitcoin Cash under a hard thorn that resulted from ideological disputes over aspects of Bitcoin’s design, especially block size.
Despite the uncertainty about the company’s management, Bitmain signed a contract in December 2020 to buy 15,000 Antminer S19 machines from Riot Blockchain, a crypto-mining company listed on the Nasdaq exchange, in a deal worth $ 35 million.
According to the latest data from BitInfoCharts, concerns about shares of unsold goods may have subsided somewhat over the New Year period, as the profitability of Bitcoin mining increased by more than 330%.