Wu Jihan Reclaims Role As Bitmain Ceo As Co-founder Is Ousted

Bitmain co-founder and tech billionaire Wu Jihan resurfaces on the helm of Beijing-based mining big Bitmain at a latest assembly with purchasers.

On Dec. 10, Bloomberg reported that Wu Jihan made a public look at a non-public occasion final Saturday in Chengdu, capital of southwestern China’s Sichuan province, the place he introduced that Bitmain co-founder Micree Zhan Ketuan had stepped down from his management function on the firm.

Zhan beforehand claimed that he was eliminated as a authorized consultant of the corporate with out his consent after Wu Jihan had despatched out an electronic mail which acknowledged that Zhan had left the corporate: “Bitmain’s co-founder, chairman, authorized consultant and govt director Jihan Wu has determined to dismiss all roles of Ketuan Zhan, efficient instantly.” Zhan expressed his disappointment and emotions of betrayal, saying that he felt as if somebody had stabbed him within the again “by these companions you trusted and brothers you fought along with.” He added: “Bitmain is our little one. I’ll combat for her until the tip with authorized weapons. I gained’t permit those that need to plot towards Bitmain to succeed. If somebody needs a struggle, we’ll give them one.” Now firmly again in management, Wu Jihan introduced new gross sales initiatives to draw new purchasers, which reportedly contains the promise to hunt deposits as little as 20% for individuals who purchase Bitcoin (BTC) mining rigs in giant bulk.

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