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Mining Company Bitmain Will Appoint A New CEO

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According to the news agency South China Morning Post, Haichao Wang will assume CEO of Bitmain, who is holding the position of product engineering director at the moment.

In November 2018, there was an information that Bitmain CEO, Jihan Wu, left his post and left the board of directors. However, company representatives denied the rumors about Wu’s leaving the board of directors and said that he would continue to lead the firm as co-chair with Micree Zhan. Haichao Wang will be assumed as company director, however, Wu and Zhan will make the final decision on the main issues.

Recall, the mining giant Bitmain sent an application for IPO to the Hong Kong Stock Exchange (HKEX) in September 2018, however, the decision on the application has not been made yet.

Fears of HKEX are well resoned: because of the profits drop in cryptocurrency mining, Bitmain is forced to reduce its staff by half. Employees of the company have confirmed information about the upcoming layoffs, however, did not report the exact number of jobs that will fall under reduction.

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