Bitmain Sues Poolin Mining Pool Founders for $170,000
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Chinese crypto mining giant Bitmain has sued 1.2 million Chinese yuan (~$170,000) from former employees, iHodl Russia has learned.

Bitmain Co-Founder Leaves Company

The trial began in August 2018, when Bitmain filed a lawsuit against three of its former managers. The defendants — who were working at that time for Bitmain — created the rival mining pool called Poolin and thus violated the anti-competition agreement.

The court ruled that Poolin legal representative Pan Zhibiao and two Poolin co-owners Zhu Fa and Li Tianzhao are ordered to return Bitmain the salary they received from September 2017 to January 2019, after the judgment comes into effect (which has been made on January 6, 2020).

Bitmain to Lay off Another 50% of Staff

Bitmain wanted to sue its former employees for a total of 30 million yuan (~$4.3 million), including a $667,000 fine for violating the terms of the agreement and the commission from 26,825 bitcoins (EXANTE: Bitcoin) mined by the pool in the considered period of time. The court decided that the fine amount requested by Bitmain was too high.

At press time, Bitmain is the operator of two large mining pools — BTC.com and Antpool.

Earlier iHodl reported that the Chinese crypto mining operator started to sell the Antminer S19, its new mining device.

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