Bitmain Lawsuit Heats Up, Plaintiffs Fight Motion to Dismiss
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United Corp, a Florida-based cryptocurrency company that sued Bitmain in December 2018, contested the mining giant’s motion to dismiss the case in a US court this week.
A cryptocurrency company United American Corp claims that China-based Bitmain should not be dismissed from the United States’ antitrust suit, as the mining gear maker requested.
The issue arose when Bitmain accused the United Corp of missing a deadline to serve the China-based firm. United Corp denied the accusations, claiming that both Bitmain and its CEO, Jihan Wu, were aware of the lawsuit against them. Instead, the firm continues to claim that it did everything in its power to properly serve the Chinese firm, and do its part before the deadline.
Bitmain vs. United Corp
Bitmain, on the other hand, claims the opposite in its November 12th motion. According to the mining giant, United Corp missed the deadline by as many as four business days. They claim that they do not have enough ties to the United States to face a jury there, much less to be aware of their obligations without being notified. United Corp once again claims otherwise, even stating that Bitmain’s current CEO, Jihan Wu, currently lives in San Jose, California.
Furthermore, United Corp. claims that it can show the ties between Bitmain and the US if the Florida magistrate judge doubted that such ties existed.
Some of the company’s proof includes the fact that Bitmain and Wu were represented by the same counsel that represents related entities. Another thing that United Corp had pointed out is that the mining giant also filed for an IPO recently in the US. They also rented office space in San Jose. Finally, according to the company, Bitmain also invested hundreds of millions of US pounds in a Texas-based data center.
Even that is not all, as Bitmain supposedly has an entire history of business deals in the US, in general. In other words, Bitmain’s claim that it doesn’t have ties to the state of California is irrelevant, as United Corp only needs to prove ties to the US itself.
Bitmain and Wu are only two of the nine names that were listed as defendants in the antitrust suit, although all of them have moved for dismissal.
Bitmain itself is one of the largest companies in the crypto industry, and it is known for its development of mining gear. Less than two months ago, the company announced two new models in their Antminer 17 series, as reported by Bitcoinist. The firm claims that its goal is to use modern technological breakthroughs to improve power efficiency and increase hashrate output.
What do you think about the ongoing Bitmain’s case? Let us know your thoughts in the comments below.
Images via Shutterstock, Case reference: United American Corp. v. Bitmain Inc. et al., case number 1:18-cv-25106, in the U.S. District Court for the Southern District of Florida.
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