According to the Bloomberg report, Wu Jihan has come back in the driver’s seat as the CEO of the company. The co-founder made the first public appearance since he announced to remove the other co-founder of Bitmain, Micree Zhan.
Bitmain announces new sales initiatives to lure customers.
In a company meeting, Wu Jihan and other Bitmain executives announced new sale initiatives to attract customers, including a promise to seel deposits as low as 20% for those who buy its bitcoin mining rigs in large bulk. Bitmain, which is the largest company to sell bitcoin mining machines, has started to face competition. As reported earlier, Bitmain rival Canaan raised over $90 million in US IPO last month.
Bitmain is also planning to announce a US IPO after its failed attempt in Hong Kong last year.
Bitmain Civil War continues.
In October, Wu Jihan announced that Micree Jhan is no longer part of Bitmain. He also warned the company’s employees from taking any orders from him or meeting him for any business-related issues. Wu and Micree both started the company back in 2013. Jhan claimed that he was removed from the company without his consent and will reclaim his position in the company via legal measures. Bitmain is based in China and is the largest bitcoin mining machines selling company in the world.