Bitcoin, Crypto currency, Blockchain

Back Jihan WU as Bitmain CEO?

According to the Chinese media, the ASIC-mini Griese Bitmain is currently in a downward hairspring caught, which could indicate devastating consequences for the company. According to Odaily, a Chinese media Agency, Bitmain released more than 50% of its employees. The company dismissed many Bitcoin Cash-developers. The report added that the two CEOs of Bitmain, Jihan Wu and Micree Zhan, your Job would be to give up the company. The successor would be a man with the surname Wang.

In addition, some of their Mining farms to be switched off. In the report it is stated further that the current CEO, Jihan Wu will occur due to the current unrest expected to return. The company has not confirmed any of the media statements formally. But sources within the company said that both Wu Zhan had a conflict on the poor economic development of Bitmain in the previous quarters. Sources 8BTC informed:

This matter is not yet resolved, and one is currently in a transitional phase,“ said an Insider from the environment from Bitmain.

Many sources said that Zhan has expressed since 2015 distrust about the leadership of WU, and now a decisive step for the better resistance of Bitmain is gone. Odaily Planet Daily’s great sources and media reports observed that the redundancies at Bitland Continental artificial intelligence (AI), Mining and Mining Pools, branches abroad and the Bitcoin Cash in the Copernicus-customer unit will relate to.

As the Hong Kong stock exchange (HKEX) announced that they will not perform DLT-based IPOs, mind Bitmain although the facts of the case. This IPO was for Bitmain, however, the ultimate Chance to acquire sufficient capital to the production of the next ASIC-Mining-Equipment and to supply as a result, the competitive crypto-markets. Now it is rumored that Bitmain is very limited in terms of capital reserves, and in the coming months permanently from the crypto-scene could disappear.

If the reports about the exit of Jihan Wu are correct, this could be for Bitmain a slap in the face. This will bring all of the miners, however, a much higher proportion of the Hash Rate of the entire network. As a result, the large Mining could be aligned Pools. Even if this is not fixed yet, we were able to observe an unusual struggle for the domination of the Hash Rate of the Bitcoin network.

About Bitmain

Bitmain has its headquarters in Beijing, China. The company produces application-specific ASIC Chips for Bitcoin Mining. 2013 Jihan founded Wu and Micree Zhan Bitmain. Before Bitmain Wu works as a Business Analyst and Single Property Fund Supervisor and Zhan operating a company called DivaIP that allowed users to transfer Videos through a Set-Top Box on a computer screen.

Bitmain has released in July its new directives for more transparency in the company. The company wanted to offer through these guidelines for more insight into the internal processes, such as the Mining from Bitmain or the shipping process.

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