Bitmain Continues to Adjust Staff as CEOs Jihan Wu and Micree Zhan Allegedly Steps Down as Well


Bitmain has made headlines lately as their staff has begun to dwindle. Some people thought that the layoffs were over, but it seems that some people are jumping ship as well.

According to a recent report on 8BTC, it looks like both Jihan Wu and Micree Zhan have decided to leave their former positions with Bitmain as CEO. An insider said, “This matter has not been settled yet, and it is currently in a transitional period.”

The sources also suggest that Zhan has been doubting his ability to perform his workover the last three years. His decision to leave is an effort to make room for Bitmain’s success. So far, when asked for confirmation, ODaily did not receive one. However, they also did not receive a denial. According to the publication, Jiang Zhihua commented,

“Thank you for your attention but we have no comment at this time. Please refer to the prospectus.”

Bitmain applied for an IPO in September, during which time Zhan and Wu were both serving under the title of co-CEO, according to the application. However, in reality, the two individuals have had major shares in the company for a while and are both CEOs. However, the fact that there was a “double CEO” mode did not really have an impact on the staff, authority-wise.

There are other rumors hitting the media lately as well, claiming that the CEOs are no more than loggerheads. The rumors say that Zhan and Wu have already been in the process of dividing up shares since April, which should’ve been the tip-off that the double-CEO era was ending anyway. However, there is been no official annoucement or even a confirmation of the rumors from the company yet.

Last month, Bitmain saw the exit of four separate members, which included Wu. However, Wu became a supervisor. So far, even with the shuffling of the board, the layoffs that impacted about 50% of the staff is causing a lot of worry. Still, somehow, Bitmain is denying any layoffs are even happening.

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