I was looking for a hosting service and found the news about Bitmain suing GND. Here's what I understand
- June 2016, GND agreed to host some 400-500 Bitmain's miners at a price.
- August 2016, GND emailed Bitmain saying they are having money problem and asked Bitmain for a prepayment. Bitmain prepaid 330k.
- Fall 2016, Bitmain shipped the miners to GND.
- Some time in between, GND had "operational issues", to the level that Bitmain was not happy with.
- Feb. 14, 2017, GND asked Bitmain to sell the miners hosting with them so that GND can host other clients at a "much higher rate".
Here's where it gets interesting. Based on GND's advice, Bitmain created an invoice to transfer ownership of the miners to GND for import duties and taxes purpose. GND didn't pay for the miners. GND then claimed they own the miners based on the invoice. "Bitmain states that GND's use of the invoice as a means to sell Bitmain's property without permission was unlawful and constitutes … civil fraud, theft and conversion."
So GND agreed to host 400-500 miners, didn't host them properly and ended up trying to steal the miners from Bitmain? Or is the news twisting some facts?
Anyone knows what happened afterward?
Submitted September 28, 2017 at 07:07PM by huskyheart http://bit.ly/2ft3uJt
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