Jihan Wu will take over as Bitdeer CEO in March

Former Bitmain CEO Jihan Wu will be assuming the role of CEO at crypto mining firm Bitdeer as Linghui Kong transitions to the company’s chief business officer. 

In a Jan. 29 announcement, Bitdeer said Wu would be moving from his role as chair of the firm’s board of directors to CEO starting on March 1. Wu founded the crypto mining firm in 2020 amid his departure from mining chip manufacturer Bitmain, which he co-founded with Micree Zhan in 2013.

According to Wu, the switch in leadership was aimed at having himself and Kong “focus on [their] respective areas of expertise” and “fully capitalize on emerging strategic growth opportunities.” ​​Kong has served as CEO since January 2021.

Today, @BitdeerOfficial announced that our Founder and Chairman, Jihan Wu, will take on the role of Chief Executive Officer effective March 1, 2024. Mr. Wu will continue to serve as Chairman of the Company’s Board. Our current Chief Executive Officer, Matt Linghui Kong, will… pic.twitter.com/sCVzDMh4Vm

— Bitdeer (@BitdeerOfficial) January 29, 2024

Related: Bitdeer, B. Riley Financial enter into agreement for $150M share purchase

Wu is also the founder of crypto financial services firm Matrixport. The company made waves in January after a report from its analysts speculated that the United States Securities and Exchange Commission would not approve listings of spot Bitcoin ( BTC ) exchange-traded funds. The SEC approved such offerings on Jan. 10.

Before his departure from Bitmain, Wu had been engaged in a power struggle with Zhan involving lawsuits and a reported raid on the firm’s Beijing office. Wu stepped down as CEO and officially broke with the company in 2021.

Magazine: Bitcoin is on a collision course with ‘Net Zero’ promises