Unconfirmed report comes out that Jihan Wu to step down as CEO of Bitmain

29 Dec, 2018
by David Borman
Unconfirmed report comes out that Jihan Wu to step down as CEO of Bitmain

It is being reported by Cointelegraph that Jihan Wu, as well as Jenke Group, will be stepping down as co-CEOs of the ASIC manufacturer Bitmain. This comes after recent heavy layoffs and a rough year in general.

The article mentions an "unnamed source" that was referenced in Chinese local media, and adds that apparently employees have not been pleased with the dual-CEO system. Given that the source of the information is not named, this rumor could be just that.

The same article also says the surname of the successor for the role is Wang, but no additional details are given.

The meat of this rumor is sparse, but it would not be too surprising as Bitmain has been laying off employees, selling miners and shifting its focus recently. The company may feel the need to go in a new direction in terms of leadership, as it seems Wu has been losing control for some time.

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