Crypto Mining

Is Bitmain Going To Appoint a New CEO?

Bitmain

Bitmain Technologies, a privately owned crypto mining company from Beijing, is all set to appoint its new CEO. It has been said in the market that the company would announce the new CEO soon. It would be overwhelming for the company to make the changes in the company framework and to replace the present company heads namely honchos, Zhan Ketuan, and Wu Jihan.

Bitmain Technologies’s contribution in the market and the probable impact of the changes in its administration on the market can be gauged from the fact that it is the largest crypto mining rig manufacturer across the world. It contributes to 75% of the world’s specialized computer devices which are utilized in mining digital/cryptocurrencies.

As per the report published by the South China Post, the next potential person who is likely to be appointed at the position of CEO will be from the company itself. The company would not consider appointing anybody outside the company network. And, the most probable choice for the role of CEO is said to be Wang Haichao.

Wang would be a right choice for the new CEO role as it already has been working with the company and not just that, former product engineering director was also working as an interim CEO when the company was in its managerial transition in December, and two of its CEO were not active. The news agency has reported that this information was shared with it from the insiders knowing the matter, who requested to stay anonymous.

The media reported in December last year that the two of Bitmain’s CEOs namely Wu and Zhan would be leaving their positions.  However, the company did not make any official announcement at that time; everybody kept mum on this matter.

No matter who gets selected to hold a commanding position of CEO in the Bitmain Technologies, this transition of power would be very crucial for the crypto market and the global crypto industry. The company, however, has not given a specific deadline within which the transition will be implemented and effective. It will happen soon, reliable sources say.

Now that it is confirmed that the company would replace the current CEOs, it is not yet clear what role Wu and Zhan will play within the Bitmain framework. Speculations are many, but nothing is being said officially.

Insiders are talking that the CEO duo Wu and Zhan will be away from the day to day matters of the company, but, would be present and available to the company management whenever the need arises, and critical decisions need to be taken to keep the company stable in this volatile market.

The third executive of Bitmain Wang Haichao has worked as a software programmer and product manager at Availink from 2010 to 2017 before joining Bitmain. His possibility of becoming a CEO is also getting considered.

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