Bitmain to Deny Jihan Wu is Out

Yesterday news that mister Wu left the post of chairman of the board of directors appeared
15 November 2018   1488

Bitmain Bitcoin has denied rumors that its head Jihan Wu left the post of chairman of the board of directors. This is reported by CCN.

News that Jihan Wu and three other functionaries withdrew from the board of directors of the company appeared the day before. According to one version, Wu entered into an unspoken confrontation with Bitmain co-founder Micree Zhang, since he is focused on developing products in the field of AI and chip production.

It was also stated in reports of local publications, Wu moved to the position of Bitmain supervisor and lost his right to vote in the decision-making process of the board of directors, in connection with which he will no longer be able to influence the management of the company.

In a letter to CCN, Bitmain marketing manager Nishant Sharma confirmed that the board of directors of the company had undergone personnel changes, but the information that Jihan Wu had left the post of chairman called fake. He also denied the departure of other members of the board.

As is standard listing practice, Bitmain is restructuring its board and group structure, to ensure it meets regulatory requirements on its road to IPO. This is to simplify the board structure to facilitate its management. There have been no board departures and co-founder Jihan Wu will continue to lead the company as co-chair, together with co-chief executive officer, Micree Zhan.
 

Nishant Sharma

Marketing maneger, Bitmain

Bitmain filed an official application for an IPO on the Hong Kong Stock Exchange in September.

Iran to Issue Over 1000 Mining Licenses

Amir Hossein Saeedi Naeini from Iranian ICT Guild Organization said that crypto mining industry attracts many in Iran
27 January 2020   165

Over the past six months, the Iranian Ministry of Industry has issued more than 1000 cryptocurrency mining licenses. This was announced by Amir Hossein Saeedi Naeini, representative of the ICT Guild Organization.

According to him, cryptocurrency mining is a new industry that attracts many in Iran. He noted that miners must obtain a license to work.

The Ministry of Industry, Mine and Trade has issued more than 1,000 licenses for cryptocurrency mining in the country. Our studies show that the crypto mining industry has the potential to add $8.5 billion to the economy.

 

Amir Hossein Saeedi Naeini

 ICT Guild Organization

 He believes that the cryptocurrency industry can help Iran's economy. However, he explained that the high cost of electricity is a serious problem for cryptocurrency miners.

High electricity tariffs plus stringent regulations have made the sector less appealing for small investors.

 

Amir Hossein Saeedi Naeini

 ICT Guild Organization

 He expressed the opinion that “the operating conditions in this industry should not be such that only large capitalists enter the cryptocurrency mining market but that all miners can operate.” He emphasized that changing electricity tariffs could stimulate the mining industry to generate more revenue.