Jihan Wu, the former CEO of Bitmain, is set to assume the role of CEO at Bitdeer, a cryptocurrency mining company. The announcement, made on January 29, outlines that Wu will make the transition from his current position as chairman of the board of directors to the role of CEO, effective March 1. Wu co-founded Bitdeer in 2020 after parting ways with Bitmain, a leading mining chip manufacturer that he co-founded with Ketuan Zhan in 2013.
The leadership change aims to leverage the expertise of Jihan Wu and Kong Linghui, who will take on the role of chief commercial officer. Wu expressed the intention behind the change, emphasizing the desire to concentrate on their respective areas of expertise and capitalize on emerging strategic growth opportunities. Kong has been serving as the CEO of Bitdeer since January 2021. Wu is not only associated with Bitdeer but is also the founder of Matrixport, a cryptocurrency financial services company.
Wu's influence extends beyond the realm of mining operations, as evidenced by Matrixport's January analyst report, which speculated on the U.S. Securities and Exchange Commission's approval of spot Bitcoin listings for Exchange Traded Funds (ETFs). The report, however, turned out to be inaccurate, as the SEC approved such listings on January 10. Wu's departure from Bitmain was marked by a power struggle with Ketuan Zhan, involving legal disputes and reported raids on Bitmain's offices in Beijing. Wu officially resigned as CEO and severed ties with Bitmain in 2021.
