Bitmain co-founder Jihan Wu has set up a subsidiary in Shenzhen to act as a liaison to semiconductor suppliers and ASIC miners, Primitive Ventures founding partner Dovi Wang said.
Jihan Wu has appointed a trusted person to be in charge of the supply chain and manufacturing, she added.
Dovi Wang recalled that Bitmain's other co-founder Mikri Zhang now controls the production unit in Shenzhen, the sales channel, the bank account and the company's office in Beijing. He also has established relationships with component suppliers.
Wu controls Bitmain's Hong Kong division. The steps he has taken mean that the parties to the intra-corporate conflict have already divided all relations in the supply chain and now the production capacity will become the main "battlefield", Dovi Wang added.
In her opinion, Jihan Wu had no other choice but to finally split the company.
The conflict between the Bitmain co-founders escalated last fall when Wu, with the backing of shareholders, removed Zhang from all positions at the company.
After his first failed attempt to regain control of Bitmain last December, Zhang has gradually managed to do so in relation to the company's key business units.
At the end of June, the media reported that the co-founders of Bitmain discussed the settlement of the conflict, but did not come to a compromise on all controversial issues.
Dovi Wang noted that Wu accused Zhang of the "coup", although this is more likely to be called his own actions in October last year.
“Obviously, all supporters of Bitcoin Cash are subject to the superpower of distortion of reality,” commented Dovie, recalling Jihan Wu's active support for the Bitcoin fork.
Recall, according to researchers from BitMEX Research, Bitmain's share in the market of miners in the past year fell to 46%, while its main competitor, MicroBT, grew to 35%.