- Bitmain, one of the biggest companies in the world, recently announced delays in the shipping of its mining equipment.
- This was due to external interference.
Bitmain, one of the biggest companies in the world, recently announced delays in the shipping of its mining equipment. This was due to external interference. The firm said that many customers were expecting to receive their equipment between June and July this year but now, due to the delay they will be receiving them by either September or October 2020.
There are two options provided to customers of the company even though neither of which can be selected at the same time. At first, a customer can write a request to the company and expect the delivery within 60 days but if the customer does not receive the product within that time frame, they can request a refund. Next, the customer can just wait it out for the equipment to be finally delivered to them and the company will compensate by giving cash coupon based on their theoretical mine in revenue.
This mining equipment has been paid for in advance by many customers and already ordered, given many customers of the company something to complain about.
Executives for the company, Wu Jihan and Micree Zhan have been in a personal and internal battle over the past year also. Legally, the two are in and out of court but according to a verdict from the law, they ruled in favour of Zhan allowing him to be the biggest shareholder of the company.