The cryptocurrency mining giant Bitmain is in our latest crypto news for appointing an existing executive that may lead the firm as its new CEO, according to reports from the South China Morning Post unveiled.
The potential successor of the current co-CEOs Jihan Wu and Micree Zhan, according to SCMP, is Haichao Wong, who is currently the director of product engineering at the company. The reports also show that Wang has already taken over some of the leadership duties, while Wu and Zhan are expected to remain as chairmen and have the “final call” in the bigger decisions of the firm.
One Bitmain representative earlier this year denied the board change, stating:
“There have been no board departures and co-founder Jihan Wu will continue to lead the company as co-chair, together with co-chief executive officer, Micree Zhan.”
Bitmain is still waiting for the approval by the Hong Kong Stock Exchange (HKEX) for its initial public offering (IPO) application which was filed in September 2018. The HKEX is probably waiting on giving the company a green light.
The mining giant is also undergoing a series of other business changes such as layoffs. Last month alone, more than 50% of the staff was asked to leave, according to reports.
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