Former Bitmain CEO Jihan Wu will assume the CEO role at cryptocurrency mining firm Bitdeer starting on March 1, 2023.
Bitdeer announced on January 29 that, effective March 1, Wu would transition from chair of the firm’s board of directors to chief executive officer. Following his 2013 co-foundation with Micree Zhan at mining chip manufacturer Bitmain, Wu established the cryptocurrency mining company in 2020.
Wu asserts that the purpose of the leadership transition was to enable both himself and Kong to “concentrate on [their respective areas of expertise]” and “completely exploit emerging strategic growth opportunities.” Kong assumed the role of CEO in January 2021.
Additionally, Wu founded the cryptocurrency financial services company Matrixport. A January report from the company’s analysts that speculated the United States Securities and Exchange Commission (SEC) would not authorize listings of spot Bitcoin exchange-traded funds caused a stir. Such offerings received SEC approval on January 10.
Wu and Zhan were reportedly involved in a power struggle before Wu departed from Bitmain, which included lawsuits and a raid on the company’s Beijing office. Wu resigned as chief executive officer and severed ties with the organization in 2021.
