In line with a recent official announcement published on 6th Aug., Bitmain will be delaying their June and July 2020 Antminer orders by a minimum of two or three months due to “external interference on company operation.” consistent with the announcement, the orders are going to be postponed until September or October 2020 “at the earliest.”
Delay Caused By Internal Issues
While Bitmain is citing “external interference,” some industry experts are confident that the delay is caused by internal issues.
Dovey Wan, founding partner of blockchain investment company Primitive Ventures, tweeted that the delay was triggered by the continued conflict between Bitmain’s co-founders — the ousted Micree Ketuan Zhan and the present CEO, Jihan Wu. This series of controversial events started earlier in the month of October last year when Bitmain’s largest shareholder, Zhan, was dismissed by Wu. Zhan subsequently pursued legal lawsuit within his bid to regain control over Bitmain and publicly opposed layoffs at the corporate.
The drama at Bitmain took another twist earlier in July when Zhan publicly accused Wu of stealing thousands of Antminers. Within an official Weibo post, the ousted Bitmain’s co-founder accused Wu of “illegally” shifting 10k mining hardware devices from a company-owned mining facility in Mongolia.
As the [Bitmain] co-founders’ battle continues, Wan added:
“Bitmain Drama hampers its normal business finally […] Bitmain pre-sales team just post an announcement today saying “due to external interference on company operation ..” their June/July orders need to postpone to Sep/Oct the earliest […] Imagine you’re [Bitmain] pre-IPO investor now.”