Tuesday , May 24 2022

They prosecute Bitmain for USD 5 million: they accused of mining with equipment and already sold CryptoNews


The legal profession claims that Gevorkyan is a Bitmain ASIC user since January this year, when he bought different equipment, including the S9 Antminer. According to Gevorkyan, the product is not difficult to configure, so this process takes a long time.

Although he did not identify the exact time taken by the plaintiff to set up the miners, the legal action against Bitmain also ensures that this new custom adds additional cost to the initial operations of each device.

In fact, the plaintiffs are seeking compensation for economic damages due to Offenses of Unfair Competition (UCL), with behavior that "overlaps public policy, immoral, immoral, oppressive and indecided." So, attorneys require compensation of $ 5 million.

The legal case also includes payments such as illegal enrichment and conversion. In this regard, the company said that its company "does not enjoy its clients' tools". In addition, he added, taking into account that mining is only a small part of a business, "Bitmain has less incentives to do so compared with sending the equipment as soon as possible to achieve it; the confirmed orders ".

The actions against Bitmain are processed for the company's two registered companies. One in Delaware, the United States and another in Beijing, China.

Bitmain, a year full of disadvantages

This legal case against the mining hardware company is being published shortly after rumors to get rid of Jihan Wu as the CEO of Bitmain, and following some drawbacks with Initial Public Proposals.

Also, the profitability of the latest releases released, the Antminer S15 and T15, with 7nm chips, is skeptical, as yet the company has been unclear about the performance of these devices.

At present it is not known how the court will proceed with this demand.

Image has been presented from BestStockFoto / stock.adobe.com

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