November 15, 2018 12:35 AM
Bitcoin mining giant Bitmain is restructuring while preparing for its billion-dollar IPO. Despite rumors, sources have confirmed co-founder Jihan Wu will remain on the Bitmain board of directors.
Over the past few days, rumors circulated that amidst a shuffle of the Bitmain Technologies Ltd board of directors, Jihan Wu, co-founder of Bitmain’s massive mining empire, had been removed from Bitmain’s senior management structure.
Nishant Sharma, Bitmain’s international marketing manager, has reportedly spoken out to confirm that Wu will continue with Bitmain as a co-director, but that restructuring has indeed occurred. Sharma said: “As is standard listing practice, Bitmain is restructuring its board and group structure, to ensure it meets regulatory requirements on its road to IPO.