The Bitmain power struggle continues as Micree Ketuan Zhan, one of the co-founders of the crypto mining giant and its largest shareholder, has reportedly made an offer to purchase shares controlled by his fellow co-founder Jihan Wu and others for $4 billion.
According to a letter provided to Chinese media outlet Jinse on June 21, Zhan claims he currently owns 36% of the shares for Bitmain’s Cayman Islands parent company—which owns Bitmain Hong Kong—and controls Bitmain’s offices in Beijing. His current shares give him 59.6% of the voting power.