China Crypto Roundup: FCoin Drama, Coronavirus Impact, Bitcoin Halving Debate

Mar 2, 2020

In recent Chinese cryptocurrency news, while the FCoin drama keeps simmering, OKEx was experienced DDoS attacks, security issues centering on crypto exchanges once again rose to a talking point in the country; Bitcoin mining industry is walking out of the shadow of coronavirus as producti...

Bitmain May Lay off Half of Employees, Ousted Co-Founder Speaks out Against It

Jan 7, 2020

Two months after Jihan Wu returned to Bitmain, the bitcoin mining giant started a new round of large-scale layoffs. "The layoff started last Thursday, which mainly targets new employees. Many professional managers have left." A Bitmain employee who has been laid off told Jiemian, a loca...

Earlier Than Bitcoin Halving，Bitmain to Further Cut Half of Its Personnel by Chinese New Year

Jan 2, 2020

Bitmain has launched its ‘personnel optimization program’ by the end of 2019. At the end of last week, Jihan Wu, CEO of Bitmain held a meeting to ask all department managers to submit the ‘optimization list’. Bitmain will hold its annual meeting on January 17, and the optimization plan...

Founder of Bitmain Rival is Charged With Embezzlement Crime, Procuratorial Organ Confirms

Dec 16, 2019

Zuoxing Yang, who is now CEO of Bitmain's rival MicroBT, has been taken into custody, China procuratorial organ’s website confirms. Procuratorate of Nanshan District, Shenzhen city has approved the arrest of the suspect Yang with the crime of Job occupation. At present, the case is...

Bitmain Launches Three Strategies to Lower the Entry Barrier for Miner Buyers

Dec 9, 2019

Bitmain’s Jihan Wu launches three strategies of "installment payment", "option hedging" and "joint mining" to lower the threshold for buyers. Speaking at annual customer appreciation meeting, Jihan Wu, CEO of Chinese crypto miner manufacturer Bitmain are trying to teach crypto miners ...

Micree Zhan Withdrew from Bitmain’s AI Subsidiary, Things after Jihan Wu Took over the Leadership

Nov 29, 2019

After being removed from the position executive director of Bitmain’s AI subsidiary, Micree Zhan now withdraws from the position of the manager of the company. At present, there are still over 30 companies registered in the name of Micree Zhan, 6 of which are located in Fujian province, a...

MicroBT to Release 38W/T Whatsminer M30S amid IP Dispute

Nov 15, 2019

MicroBT, a Shenzhen-based crypto mining chip manufacturer,  is about to release its latest bitcoin mining model, M30S, which is allegedly superior over Bitmain’s S17 Pro in power consumption, according to Wu Gang, a shareholder of MicroBT. Wu Gang, CEO of crypto wallet Bixin...

Did Micree Zhan embezzle Bitmain’s Property? Jihan Wu Rails Against

Nov 4, 2019

Earlier, it was rumored that Bitmain’s Micree Zhan embezzled the company’s property for his own sake among Chinese media. On November 1st, Jihan Wu denied the rumor on WeChat as Wu thought the media were hyping it up. Last month, a Chinese media said that Jihan Wu might find e...

Chinese Bitcoin Mining Giant Bitmain Has Secretly Filed IPO in the U.S. Amid its Power Clash

Oct 30, 2019

Chinese bitcoin mining giant Bitmain has confidentially filed for an initial public offering (IPO) in the United States, according to Tencent News on October 30. Tencent reported that the world’s largest crypto mining equipment manufacturer, underwritten by Deutsche Bank, has secret...

Bitmain Upheaval: Jihan Wu Regains Control of the Company by Ousting Cofounder Micree Zhan

Oct 29, 2019

The China-based crypto mining giant Bitmain is currently immersed in a highly charged atmosphere as Jihan Wu sent out an email to all staff announcing that cofounder and executive director Micree Ketuan Zhan has been ousted. The takeover of power - the comeback of "Bitmain's Jobs"? ...