Mining farm causes fire in Novorossiysk

The fire outbreak was a result of pauseless mining
29 November 2017   1940

Early in the morning of November 27 it was reported that one of the apartments in bedroom suburb of Novorossiysk in Russia was enveloped in flames. There was no loss of life or injured people but all the property of an owner was burnt away. It is said that vinyl windows of upstair neighbors were fire damaged and an apartment of downstairs neighbours was flooded  during the fire-fighting operation.

According to preliminary data, the main ignition cause was a short circuit. It was reported that there was an underground mining farm organized by the owner of the apartment. The long process of mining leads to the overload of electric current and heating of air. For this very reason the probability of fire hazard increases. 

Many officials put forward suggestions about banning of mining farms located at living quarters in Russia. The idea was supported by Ilya Massukh, the President of Information Democracy Development Foundation. 

Bitmain Wants to Sue $4.3M From Ex-Employees

Tangled cased started back in 2015, when today's largest mining pool BTC.com was born
17 June 2019   87

The Chinese mining company Bitmain sued three of its former employees who allegedly violated the contract to refuse competition. This is reported by Coindesk.

Currently, there are six lawsuits in court: three from the co-founders of the Poolin pool, claiming that they are no longer bound by the terms of the contract with the company, and three from Bitmain, insisting on the opposite.

The operational director of Poolin Fa Zhu in 2015 reported that he and his colleagues suggested Bitmain to open a new mining pool, BTC.com, in parallel with Antpool, which was already available at that time. Bitmain did not support the initiative, and then the three decided to launch it with their own money. Today BTC.com is the world's largest bitcoin mining pool in terms of hash rates.

Poolin was founded in November 2017 for the mining of a variety of cryptocurrencies and is currently ranked seventh among the largest mining pools of Bitcoin. Poolin was involved in Bitcoin mining in July 2018 and has since received 26,825 BTC or $ 220 million at the current exchange rate.

Under the terms of the waiver agreement, Bitmain had to pay the Poolin CEO Zhibiao Pan $ 2,780 a month for two years for refusing to open a bitcoin mining pool. The amount of compensation for the two other business participants is not specified.

Now the company is trying to recover all payments from the former employee, and also asks to impose a fine in the amount of $ 667,000 for violating the terms of the contract. In addition, Bitmain lawyers argue that all Bitcoins mined by Poolin are income derived from the failure to comply with the terms of the agreement, the percentage of which is also subject to recovery. The total amount of the claim is $ 4.3 million.

Poolin lawyers, in turn, state that Bitmain itself violated the terms of the agreement when it failed to pay Pan in due time, and the 26 825 BTC obtained by the defendant cannot be considered a direct loss for BTC.com, since there are many pools in the Bitcoin network, everything of which were able to get this cryptocurrency.