May 3, 2024

Poolin founders will have to pay Bitmain $ 170,000 by court order

The founders of the Poolin pool lost the case against Bitmain and are obliged to pay it 1.2 million yuan ($170,000) in settlementpreviously received payments and fines.

Bitmain filed a lawsuit against three of its former managers in August 2018 for opening their own mining pool, thereby violating the anti-competition agreement.

Bitmain won the case and now legalPoolin spokesman Pan Zhibiao and two of his co-owners Zhu Fa and Li Tianzhao must return to Bitmain the wages they received from September 2017 to January 2019. The payment was supposed to take place within 7 days from the date of the decision of the court on January 6 of this year.

Bitmain wanted to get much more - 30 millionRMB ($ 4.3 million), including a fine for violation of the terms of the agreement in the amount of $ 667,000 and a commission with 26,825 BTC, which were extracted by the pool for the entire period. The court found this amount excessive and reduced it.

Bitmain's core business is manufacturingequipment for cryptocurrency mining, in addition, it manages the BTC.com and Antpool pools, which for a long time dominated the Bitcoin network in terms of the hash rate. Last September, Poolin outperformed Bitmain in terms of computing power.

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Last week, Bitmain co-founders Micree Zhan and Jihan Wu were included in the list of the richest inhabitants of the planet according to Forbes magazine.

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