Bitman sues former top managers for 1.2 million yuan
Bitman wins lawsuit against three top executives
Violators are required to return 1.2 million yuan
Poolin ranked second in the world for hash rate
International consortium of news organizations developing transparency standards.
The management of Bitman, one of the largest mining equipment manufacturers, has sued the three former employees for more than 1.2 million yuan, or more than 170,000 in dollar terms. The final decision on payment of compensation and fines was made by the Haidian District People’s Court in Beijing after two years of legal proceedings.
Back in August 2018, Bitman filed a lawsuit against three former top managers – Pan Zhibiao, Zhu Fa, Li Tianzhao, who created a rival mining pool Poolin. Cryptocurrency is not only an alternative to traditional money, but also a tool for earning. To process transactions in the network of coins, a computational … More is required, than a non-competitive agreement concluded earlier was violated. As a reminder, Bitman also owns BTC.com and Antpool, which until 2019 were the largest mining pools in the world in terms of hash rate. The claimant, represented by Bitman, filed a lawsuit in the amount of RMB 30 million (US $ 4.3 million), which includes a fine of US $ 667,000 for violation of the terms of the agreement and a processing fee for the mined Bitcoins that were mined at Poolin. period, and this is at least 26 825 MTC.
The Haidian court satisfied the claim, but considered that the amount indicated by Bitman was somewhat overestimated, so a decision was made to reduce the amount of compensation. According to the final ruling, the three defendants are ordered to return all compensation paid by their former employer Bitmain between September 2017 and January 2019 in the amount of 340,292.32 yuan, 248,850.1 yuan and 281,379.31 yuan, respectively, as well as fines. of RMB 462,000 (USD 65,578), RMB 352,008 (USD 49,965) and RMB 408,000 (USD 57,913), respectively, within seven days of the entry into force of the judgment, which was issued on January 6, 2020 r.
Note that the mining pools managed by Bitman are among the five largest in the world in terms of hash rate, second only to F2PoolCryptocurrency – not only an alternative to traditional money, but also a tool for making money. To process transactions in the coin network, a computing … More with a share of 19.6% and Poolin with a share of 19.4%.
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