Jihan Wu Loses Control of Bitmain as IPO Documents Indicate Profit Figures Were Hyped-1.24

Bitmain has dominated ASIC manufacturing since it was founded in 2013. One man has been at the forefront of this domination, leading the company into the giant that it is today; Jihan Wu. However, it may not be so for much longer, with a Chinese publication revealing that a recent reshuffle has demoted the renowned crypto campaigner to the role of a supervisor from his previously held Director role in the board.

The news come after the Financial Times unearthed the fact that the figures reported for the profitability of the firm had almost been doubled in earlier reports by the firm. Documents circulated during the funding rounds and those submitted during filing for IPO show contrasting figures, with Bitmain failing to give an explanation for the difference.

Original source
https://nulltx.com/jihan-wu-loses-control-of-bitmain-as-ipo-documents-indicate-profit-figures-were-hyped/

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