Bitmain Co-founder Exits, Resolving Years-long ... -

The purchase was financed through a from Bitmain’s cash reserves and $200 million in outside funding.

A new five-member board was established, with Zhan appointing three members and Wu appointing two. Strategic Business Split Bitmain Co-Founder Exits, Resolving Years-Long ...

: A major mining pool was also transferred to Wu’s control as part of his exit. Background of the Conflict The purchase was financed through a from Bitmain’s

: Zhan resumed control of Bitmain’s core manufacturing and China-based operations. Bitmain Co-Founder Exits, Resolving Years-Long ...

: Micree Zhan purchased nearly half of Bitmain’s shares from a group of founding shareholders (including Wu ) for $600 million .

To settle the dispute and streamline the company for a future IPO, Bitmain's businesses were divided between the two founders: