Bitmain separates from Antpool to emphasis on creating hardware for bitcoin mining

Bitcoin mining hardware manufacturing giant Bitmain has just about finished mining at Antpool, which is now the biggest bitcoin mining pool by hash charge.

Bitmain explained in a blog site submit on Tuesday that it held an interim shareholders’ meeting on July 26 and reported on progress in divesting the Antpool mining business enterprise.

The preliminary divestment approach was exposed in January when Bitmain co-founder Jihan Wu stepped down as president to finish a 12 months-lengthy inner energy struggle with rival co-founder Micree Zhan.

Mr. Wu explained portion of the approach is to flip Antpool into “an independent company led by Micree”. The cause provided was to simplify Bitmain’s business enterprise model to make it much easier to pursue an IPO.

Antpool’s divestment comes months right after Bitmain offered BTC.com to US-listed BIT Mining.

With the divestments of two of its significant bitcoin mining pools, BTC.com and Antpool, Bitmain explained it will emphasis solely on establishing and promoting mining hardware design and style.

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