Chinese Lottery Firm Rebrands, Purchases Bitcoin Mining Rig Manufacturer for $100 Million

Chinese Lottery Firm Rebrands, Purchases Bitcoin Mining Rig Manufacturer for $100 MillionFollowing the acquisition of the Chinese mining pool Btc.com, the China-based lottery company 500.com revealed the purchase of a bitcoin mining rig manufacturer Bee Computing. The Shenzhen firm purchased the semiconductor and mining device manufacturer for roughly $100 million in a share exchange agreement. 500.com Changes Name to Bit Mining Limited and Acquires Bee Computing […]

Bitmain Cofounder Allegedly Expelled – Could Face Litigation for Operation Interference

Bitmain Cofounder Allegedly Expelled - Could Face Litigation for Operation InterferenceOne of the largest ASIC mining manufacturers worldwide, Bitmain, has allegedly ousted cofounder Micree Zhan. Regional reports note that he’s been threatened with litigation if he interferes with company operations. According to two local announcements written in Chinese, Bitmain has warned Zhan two times not to intervene with employees. Last October, news.Bitcoin.com reported on the […]

The post Bitmain Cofounder Allegedly Expelled – Could Face Litigation for Operation Interference appeared first on Bitcoin News.