As per the recent reports published, Bitmain is all game to sue three of its former employees over non-compete. Zhibiao Pan, Fa Zhu, and Tianzhao Li who started ‘Poolin‘ – a rival to Bitmain’s BTC.com mining pool.
Bitmain has filed to seek a whopping 4.3 Bitmain has filed to seek a whopping 4.3M USD in damages by stating that Poolin and their founders have violated their non-compete agreements. M USD in damages by stating that Poolin and their founders have violated their non-compete agreements.
As a comeback, the former employees have stated that Bitmain has failed to pay them on time [which should have acted in accordance to the dates as mentioned in their agreement], as Bitmain did not respect the terms of the agreement the trio have stated that the non-compete stays ineffective to their previous consensus.
Irrespective of the current lawsuit filed against Poolin, the website and company are up and working. You can check its registrations and more here!
Additionally, on 9th May, Poolin partnered with Blockstream.
Blockstream is a blockchain technology-based company led by Adam Back and his founders. Interestingly, Adam Back previously had beef with the promoters of BCH.
Samson Mow the Chief Strategy Officer of Blockstream even clicked a picture with the trio.
Lawyers representing the Poolin founders argued to the court that they were not obligated to honor the agreement and thus should not be ordered to pay the damages. Since Bitmain neglected to pay the founders the settled upon pay on schedule, referring to lines from the understanding that if Party A (Bitmain) did not pay the remuneration inside a month since Party B (founder’s) flight, it would mean Party A voided its commitment.
As of now, no comments have been made by Poolin or Bitmain on their dispute.