Jihan Wu to Leave Bitmain's Board, Media 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
14 November 2018   765

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.

SBI Holdings to Start Mining Chips Manufacturing

The new enterprise will work in partnership with an unnamed major semiconductor manufacturer from the United States
22 March 2019   94

The Japanese financial conglomerate SBI Holdings announced the creation of a new enterprise that will focus on the production of chips and cryptocurrency mining systems.

The message on the company's website says that SBI Mining Chip Co. (SBIMC) is part of SBI Holdings digital asset strategy.

The new enterprise will work in partnership with an unnamed major semiconductor manufacturer from the United States, and a former head of Chip Estimate and WearSens Adam Trademan, will head it. Currently, Trademan heads the BRD mobile cryptocurrency wallet development company, in which SBI Holdings invested $ 15 million in January of this year.

Recall that its plans to launch a broad offensive against the cryptocurrency industry were announced by SBI Holdings in October 2017. Since then, the corporation has made numerous investments in various projects, and also intends to promote the mass adoption and practical use of the RR Xle XRP token.