MicroBT founder and developer Antminer S7 and S9 arrested in China

Yang Zuoxing, founder of MicroBT, a cryptocurrency mining equipment company, arrestedChinese police charged with embezzlement of $ 15,000.

The arrest was ordered by the prosecutorNanshan County, Shenzhen City. As noted in a statement on the district prosecutor’s website, the criminal case is still under investigation. Josin is accused of embezzling about 100,000 yuan, which at the current rate is about $ 15,000.

The site does not report whetherthe theft during Yang’s work at Bitmain, or after the dismissal of Josin and the founding of MicroBT. Perhaps we have witnessed a corporate “disassembly” - recently MicroBT has occupied a significant share of the mining device market, having taken it from Bitmain.

Yang previously served as development directormining chips and was responsible for creating the flagship models of Bitmain S7 and S9. With the release of these most massive ASIC miners, the company earned more than $ 2 billion in profit.

Recently, it was reported that Chinese bitcoin miners still control up to 66% of the global hashrate, with most farms concentrated in one province.

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