News reaching Ethereum World News indicate that the Bitcoin Mining Giant known as Bitmain, has undergone a board reshuffle that has led to its CEO – Jihan Wu – losing his seat as the board’s executive director. Mr. Wu now serves as a supervisor. The exact roles of his new position are unclear at the moment of writing this but it appears that he currently has no voting rights as a supervisor. Wu will therefore be unable to participate in the business decision-making at Bitmain.
Jihun Wu is replaced by Zhan Ketuan who now serves as Bitmain’s executive director and manager. Four out of six directors at the firm also resigned from the board only last week.