CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data

jihan wu

Bitmain Founder Jihan Wu Setting Up $250M Fund to Buy Distressed Bitcoin Mining Assets: Report

Wu's Bitdeer Technologies will initially invest $50 million and aims to raise another $200 million from outside investors.

By Jamie Crawley

Sep 27, 2022 at 2:23 p.m. UTC

Sep 27, 2022

Bitcoin MiningJihan WuBitdeerBitmain

Bitmain Co-Founder Exits, Resolving Years-Long Power Struggle as Mining Firm Preps IPO

Bitmain co-founder Jihan Wu is stepping down from his role as part of a settlement.

By David Pan

Jan 26, 2021 at 3:37 p.m. UTC

Jan 26, 2021

ChinaMiningBitmainJihan WuMicree Zhan

Jihan Wu Regains Upper Hand in Bitmain Co-Founder Fight

A new twist in the power struggle at Bitmain: Co-founder Jihan Wu has regained the legal representative status of the bitcoin mining giant.

By Wolfie Zhao

Sep 15, 2020 at 3:20 a.m. UTC

Sep 15, 2020

Bitcoin MiningChinaBitmainJihan Wu

Bitmain Co-Founder Offers Share Buyback at $4B Valuation to End Power Struggle

The offer seems an apparent effort to bring about negotiations that could end the divisions that have been tearing the company apart.

By Wolfie Zhao

Jun 22, 2020 at 9:25 a.m. UTC

Jun 22, 2020

Bitcoin MiningBitmainJihan Wu

Bitmain's Feuding Co-Founders Are Fracturing the Firm and Staff Are Caught in the Middle

Staff at bitcoin miner manufacturer Bitmain are being forced to choose between its two co-founders as a long-running feud over control of the firm worsens.

By Wolfie Zhao

Jun 4, 2020 at 2:35 p.m. UTC

Jun 4, 2020

BitmainJihan WuMicree Zhan

Internal Struggle at Bitcoin Mining Giant Bitmain Escalates to Physical Confrontation

After Micree Ketuan Zhan, the exiled co-founder of Bitmain, moved to reinstate his position after another partial legal victory over his former employer, tensions reportedly escalated into a physical brawl.

By Wolfie Zhao

May 8, 2020 at 9:40 a.m. UTC

May 8, 2020

Bitcoin MiningChinaBitmainJihan WuMicree Zhan

Business

Bitmain

Bitmain Spin-Off Matrixport Seeks $300M Valuation in Latest Funding Round

Matrixport began pitching investors a few weeks ago with the aim of raising $40 million.

By Paddy Baker

Mar 4, 2020 at 3:00 p.m. UTC

Mar 4, 2020

BitmainFunding RoundsJihan WuMatrixport

Business

China

How Was It Possible for Bitmain to Oust Its Largest Shareholder Overnight?

Corporate documents reveal new details about the ouster of Bitmain co-founder Ketuan "Micree" Zhan.

By Wolfie Zhao

Jan 20, 2020 at 7:00 a.m. UTC

Jan 20, 2020

ChinaBitmainJihan Wu

Markets

Bitmain

Ride 'Em, Cowboy: Bitmain's Marketing Gambit Ups Its Texas-Sized Position on Bitcoin

Bitmain's new strategy of giving put options on bitcoin to buyers of its miners amounts to a "Texas hedge" – doubling down on risk, not offsetting it.

By Lawrence Lewitinn

Dec 12, 2019 at 6:00 p.m. UTC

Dec 12, 2019

BitmainBitMEXBitcoinJihan WuDeribitOptionsSkew