Bitcoin Mining Leader Bitmain has a Co-Founder, Micree Zhan, Jihan Wu’s Billionaire Partner
When we think of cryptocurrency-mining firm, Bitmain, we immediately associate Jihan Wu, who is both the cofounder and co-CEO. His presence within social media is inevitable as he continues to update the Bitmain community on every inch of progress being made.
According to Forbes, the other cofounder and co-CEO is none other than, Micree Zhan. Here are some things that have been discovered thus far.
Higher Share In Bitmain
It has been recently revealed that Jihan Wu holds less stake in Bitmain than his partner does, where the former holds approximately 20.5 percent and the latter, 36.58 percent.
After further analysis, it has been concluded that Zhan’s current net worth is about $4 billion, with Wu’s sitting at $2.3 billion.
Zhan’s Educational Background
Zhan majored in electrical engineering at Shandong University and pursued further studies at the Chinese Academy of Sciences’ Institute of Microelectronics.
His career in engineering started off within the research and development sector, which lead him to study closely into the integrated circuit design. What began as exploring chips for television eventually led him to develop the application-specific integrated circuit (ASIC) chips, which are what Bitmain is largely known for.
Wu has a fair share of experience under his belt, as his degree in economics and psychology allegedly allowed him to serve as an investment manager at a private equity firm prior to founding Bitmain. He is also proclaimed as the first individual to have translated Satoshi Nakamoto’s Bitcoin Whitepaper in Mandarin Chinese.
Bitmain Came Into Existence In 2013
Zhan’s specialization in chip design is what gave him the opportunity to create a firm of his own. Bitmain could have not existed if it weren’t for Zhan’s engineering background, which came in handy when considering complex math problems that needed solving. When the two first met to discuss partnership, it was reported that it took Zhan two hours to decide whether or not crypto mining was the way to go, and his source: Wikipedia.
Today, both Micree Zhan and Jihan Wu's efforts have brought Bitmain nearly $2.5 billion in revenue from mining product sales, amounting to approximately 95 per cent of all operations. Forbes also pointed out that the crypto-mining firm’s walk into the first quarter of 2018 was a breeze as it secured a net profit of $1.1 billion.
Bitmain’s next endeavor involves a potential Initial Public Offering (IPO), in which the firm claims to have gained support, namely from tech firms. As per Bitcoin Exchange Guide’s previous post, Bitmain was questioned by the crypto sphere for falsifying its list of partners and enormous investments, especially that of Tencent and SoftBank Group.