Bitmain accuses Orb Energy of mismanagement and demands to recover thousands of Bitcoin miners in the US

In a legal dispute in Texas, Bitmain seeks to recover 2,700 miners Antminer valued at more than USD $ 5.5 million, alleging diversion of funds and damage to the equipment.

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• Bitmain He filed an emergency motion to recover his teams in Texas
• Accuses Orb Energy of diverting BTC and damage thousands of miners Antminer
• Representative of Congress Ask to review the operations of Bitmain and Cango In the US.

Bitmain, One of the largest hardware manufacturers for mining Bitcoin of the world, he has accused Orb Energy Co. of poor management and diversion of digital assets, weeks after the American company was declared in bankruptcy under Chapter 11. The legal dispute takes place in Texas and could have repercussions on the presence of Chinese companies in the mining sector of the United States.

The company based in China presented on August 27 an emergency motion before the Bankruptcy court of the southern district of Texas, arguing that the automatic suspension derived from the request of Chapter 11 of Orb I should not cover the 2,700 teams Antminer housed in the facilities of Van Vecck. Bitmain He maintains that machines, valued at more than USD $ 5.5 million, remain their property under a lodging and sale contract, and should not be part of the bankruptcy of Orb.

Accusations of diversion of funds and damage to the equipment

According to Bitmain, Orb Energy He began diverting mining rewards on December 4, 2024, redirecting payments from his machines to wallets controlled by his CEO, Jamieson Zaniewski. The company states that this maneuver was a detour from BTC for a value close to USD $ 10 million at current market prices.

The company also accuses Zaniewski to sell Bitcoin belonging to Bitmain In the middle of this year, just before key judicial audiences, hiding wallet addresses and transaction records to hinder tracking.

Bitmain It also maintains that, despite state judicial orders, Orb He physically blocked his staff to the site, installed barriers and placed signaling with explicit threats, including the presence of firearms, according to testimonies presented in the judicial file.

Finally, complaint that Orb installed unauthorized firmware that annulled security protocols and caused “Irreparable damage” to hundreds of units, while dissipating income from Bitcoin through internal loans.

Terminated contract and legal action

According to Bitmain, The lodging contract was formally terminated in July 2025 after repeated non -compliance notices ignored by Orb. After its culmination, the company hoped to recover its teams; However, the defendant included hardware in its bankruptcy listings, which led the team manufacturer to undertake this legal emergency action.

The dispute also reveals that Bitmain It operates directly mining capacity on American soil, something about which the company has traditionally been reserved.

Regulatory examination on Bitmain and Cango

The legal motion against Orb It occurs days after representative Zachary Nunn, a member of the Select Committee on the Chinese Communist Party in the US House of Representatives.will send on September 2 a letter to the secretary of the Treasure, Scott Besent, requesting that the Foreign Investment Committee in the United States (CFIUS) investigate a Bitmain and his affiliate Cango for its growing presence in the US market.

In the letter, cited by Bloomberg, Nunn argued that both companies “They seem to be expanding operations in the US. Through complex property and financing structures that may not be completely transparent for regulators or the public”. Bitmain has denied that you have plans to acquire Cango and both companies claim to comply with US laws and not have links with the Chinese government.

Cango, Originally a Chinese automotive services platform listed in the US Bitcoin and has become one of the five greatest actors in the sector. The regulatory scrutiny could be intensified amid political and economic tensions between the US and China, adding pressure on companies that seek to expand in the cryptocurrency mining industry.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.

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