The labor dispute between Bitmain and Biyin was ruled that Biyin executives must return the non-compete compensation and liquidated damages

According to the Beijing Court Trial Information Network today, the Haidian District People's Court of Beijing ruled that Pan Zhibiao, the legal representative of Biyin, and shareholders Zhu Yu and Li Tianzhao must continue to perform the "Confidentiality and Non-competition Agreement" and "Supplementary Agreement" signed with Bitmain Technology Co., Ltd. (Bitmain) in their labor dispute with Bitmain; Pan Zhibiao, Zhu Yu and Li Tianzhao must return the non-competition compensation paid by Bitmain from September 2017 to January 2019 within seven days after the judgment takes effect, which are 340,290.32 yuan, 248,850.1 yuan, and 281,379.31 yuan respectively, totaling nearly 900,000 yuan; and within seven days after the judgment takes effect, pay Beijing Bitmain a penalty of 462,000 yuan, 352,008 yuan, and 408,000 yuan for violating the non-competition restriction, totaling more than 1.2 million yuan.

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