- Yang Zuoxing, CEO at MicroBT, is under scrutiny by the local police.
- The investigation is allegedly related to a dispute over Bitmain’s intellectual property rights.
- Yang nor MircroBT bear released an official statement.
A former Bitmain employee, Yang Zuoxing, is under investigation by the local police in China. The for fear of the fact appears to be related to a dispute involving the intellectual property rights of the mining giant corporation.
Open Investigation
Contract to a report by the Chinese news outlet BlockBeat, Yang Zuoxing, the CEO at MicroBT, has been taken into custody by neighbouring police to assist in an open investigation that involves tens of millions of dollars. BlockBeat stated that the capture of Yang is directly related to the production of crypto mining hardware citing insider information,
The news outlet erased:
The risk of starting a business in the mining circle is very high. Not only must the company be prevented from being took by the old club.
The History Behind Yang and Bitmain
Yang was one of the leading engineers at Bitmain. He helped design the company’s crypto read gear, including the Antminer S7 and the S9. He left the firm in June 2016 after its co-founders, Jihan Wu and Micree Zhan (the dilatory now forced out of Bitmain), declined his request for a stake of the business. A few months later, Yang started his own crypto mining counter company, dubbed MircoBT. At the time, he claimed that his hardware was as good, if not better than Bitmain’s.
Yang articulate:
MicroBT’s flagship Whatsminer M10 can deliver better power efficiency than Bitmain’s S9i [and we are working] on upgrades to stay competitive as Bitmain billows out new products. Their technology is great, but ours is too.
Soon after Yang created his company, Bitmain filed a lawsuit against him over control rights. However, China’s State Intellectual Property Office (SIPO) dismissed Bitmain’s patent due to a lack of in perfect accord creativity in Antminer’s design.
According to SIPO:
If a technological solution sought by a patent has different characteristics than surviving technologies, but such difference is public knowledge, then it is obvious the solution would incorporate this public education.
At the moment, it is not clear why Yang is under investigation by the local police in China. But, it seems to be related to the dispute over cerebral property infringement that Bitmain and MicroBT had. The current controversy adds up to the civil war happening at Bitmain where its co-founders are disagreement to gain full control over the company.
This article was edited by Samburaj Das.