The head of Bitmain Jihan Wu, resigned from the company's board of directors and moved to the position of supervisor, 8btc reports
According to the lawyer of Bitmain, with the transition to a new position, Wu lost his right to vote in the decision-making process of the board of directors, in connection with which he could no longer influence the management of the company.
According to the published document, in addition to Wu, three more functionaries left the management team. The changes allegedly took effect on November 7th.
The reasons for this decision were not disclosed. However, according to some rumors, Jihan Wu entered into an unspoken confrontation with Bitmain co-founder Mikri Zhang, since he is focused on product development in the field of AI and chip production.
In September, Bitmain filed an official application to the Hong Kong Stock Exchange for an IPO. It is currently under review.
In November, Bitmain announced plans to install 90,000 Antminer S9 devices in the Xinjiang Uygur Autonomous Region before the upcoming hard fork of Bitcoin Cash on November 15.