Bitmain ready to ditch double-CEO system

According to a report by Odaily, Jihan Wu and the Jenke Group are set to retire as CEOs of the company.

Citing an unnamed source familiar with the situation, it claims that Bitmain is in a transition period, with employees apparently not keen on the double-CEO system. A single successor, with the surname of Wang, is now ready to take the reins.

The Odaily story follows reports in November that Bitmain had demoted Wu to supervisor amid speculation of a switch to Bitcoin SV.