TechFlow news — According to TheBlock, in decrypted encrypted messages from Wu Jihan, Bitmain co-founder Wu Jihan officially announced his resignation from Bitmain to resolve a year-long internal power struggle with his rival co-founder Zhan Ketuan.
Wu stated that the differences between Zhan Ketuan and himself have been ultimately resolved in a friendly and constructive manner. As part of the agreement, Zhan purchased shares in Bitmain held by Wu and some founding shareholders for $600 million. In response, Wu said he has resigned as CEO and chairman of Bitmain effective Tuesday. Additionally, Wu noted that BitDeer has today been spun off from Bitmain alongside its mining operations in the U.S. and Norway, and he will serve as chairman of BitDeer.
