How a Shrinking Bitmain Could Destabilize Crypto Market Further

Bitmain Technology, the world’s largest crypto mining equipment manufacturing firm, is going to replace its chief operating officers Jihan Wu and Ketuan Zhan with a new appointee, reported the South China Morning Post.

The news follows months of speculation about Bitmain losing billions in the final quarter of 2018. Earlier in December 2018, the Beijing firm reportedly fired more than half of its staff, including a team which was working on the next Bitcoin Cash client. It also closed its blockchain research and development center in Tel Aviv, which it had launched in July 2018.

In September, Bitmain had applied to list publicly in Hong Kong publicly. The state regulators…

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2019-01-13 11:30:30

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