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Bitmain, the largest equipment manufacturer for mining Bitcoin, has denied earlier rumors that its head Jihan Wu left the post of chairman of the board of directors.

In a letter to CCN, Bitmain marketing manager Nishant Sharma confirmed that the board of directors had undergone personnel changes, but the information that Jihan Wu had left the post of chairman was faked. He also denied the departure of other members of the board.

“As is standard listing practice, Bitmain is restructuring its board and group structure, to ensure it meets regulatory requirements on its road to IPO. This is to simplify the board structure to facilitate its management. There have been no board departures and co-founder Jihan Wu will continue to lead the company as co-chair, together with co-chief executive officer, Micree Zhan.”

Reports that Jihan Wu and three other functionaries left the board of directors, appeared the day before. According to one version, Wu entered into an unspoken confrontation with Bitmain co-founder Mi­cree Zhan, since he is focused on developing products in the field of AI and chip production.

It was also stated in reports of local publications, Wu moved to the position of Bitmain supervisor and lost his right to vote in the decision-making process of the board of directors, in connection with which he could no longer influence the management of the company.

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