Bitmain chief plots crypto comeback after co-founder ouster

Bitmain is reportedly one of the leading producers of Bitcoin-mining equipment in the world. — AFP

Bitmain Technologies Ltd’s billionaire chief executive officer Wu Jihan is back in the driver’s seat following the ouster of his co-founder, touting new sales initiatives to attract clients as the company fends off rivals.

Wu hosted a client meeting on Saturday, according to attendees who asked not to be identified because the event was private. It was his first public appearance since a power struggle six weeks ago when he announced as founder and chairman that his co-founder Micree Zhan Ketuan was no longer with the company. It also marked Wu’s re-emergence as the company’s CEO following his loss of control to Zhan, who had held de facto leadership from March until his resignation.