World's largest crypto miner splits ahead of long-awaited IPO
HONG KONG/PORTLAND (Jan 27): Bitmain Technologies Ltd’s Jihan Wu has resigned as chairman and chief executive of the world’s largest cryptocurrency mining equipment maker, relinquishing control as part of the settlement of a dispute with his co-founder. Micree Zhan, the other co-founder, purchased almost half of the private shares of Bitmain owned by the company’s initial investors for US$600 million, Wu said in a statement sent over Twitter that was confirmed by Bloomberg. Of that amount, US$400 million was a loan from Beijing-based Bitmain, while Zhan will raise another US$200 million...
Source: theedgemarkets.com