Bitmain is suing three former employees who started Poolin, a rival to BTC.com mining pool

Bitmain is suing three former employees who started Poolin, a rival to BTC.com mining pool

The Takeaway Bitmain is suing three former employees who started Poolin, a rival to the chip manufacturer’s BTC.com mining pool The company is seeking $4 million in damages, alleging the Poolin co-founders violated their non-compete agreements; The former employees say Bitmain voided the non-compete by failing to pay them on time as agreed. The case offers a rare window on Bitmain’s inner-workings and employment practices. Cryptocurrency mining giant Bitmain is locked in a legal battle with three former employees who started a rival mining pool. Bitmain, the owner of BTC.com, the world’s top bitcoin mining pool by hash rate, is suing...

China: Locals Allegedly Laying Cable via Fish Ponds to Steal Oil Well Power for BTC Mining

China: Locals Allegedly Laying Cable via Fish Ponds to Steal Oil Well Power for BTC Mining

Police in China have reportedly gathered evidence of people laying cables via fish ponds to steal oil well power to fuel their bitcoin (BTC) mining. The news was reported by daily Chinese tabloid The Global Times on June 13. The Global Times is published under the auspices of state-backed newspaper group The People’s Daily. The report outlines that the Green Grassland Police Station of the Qiqihar District Public Security Bureau were alerted to the alleged power theft after receiving a call from the head of oil production at Daqing Oil Field — the largest oil field in China, located in Heilongjiang province. In order to...

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