While a internal war is raging within Bitmain, the co-founder Jihan Wu would no longer be the legal representative of the company crypto-mining.
According to data on Chinese companies shared by Tianyancha, Jihan Wu left his place as CEO to Luyao Liu, ex-chief financial officer of Bitmain, on January 2, 2020, reports TheBlock.
Last year, a power war broke out between the two CEOs and co-founders of Bitmain, Micree Zhan Ketuan and Jihan Wu.
The conflict ultimately led to the ousting “Surprise” of Zhan Ketuan in the fall of 2019. The latter has since launched a judiciary process in order to reintegrate the company specializing in the mining of cryptocurrencies.
While the Chinese firm still dominates the global crypto-mining market, it is gradually losing market share to other players like Canaan.
Last month, Wu took the floor as general manager and presented the new business strategies to maintain its leadership in this new industry.
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