Jihan Wu

Co-founder of Bitmain
Summary

Jihan Wu is the co-founder of BITMAIN, one of most recognized and valuable bitcoin companies, and has come into limelight as a supporter of Bitcoin Unlimited, a solution to solve Bitcoin’s scalability issue. Jihan Wu founded Bitmain maintains AntPool which holds the largest hashrate distribution amongst mining pools; currently AntPool mines 16.4% of all blocks. This makes Jihan Wu highly influential in the Bitcoin community.
 

Wu founded Bitcoin mining giant Bitman along with Micree Zhan in 2013. Wu was an early adopter of Bitcoin, having raised money from family and friends to buy 900 Bitcoin in mid-2011. Earlier in 2019, Wu stepped down as Bitmain’s CEO to found Matrixport, a firm that provides financial services related to cryptocurrencies. He has since resumed the post of CEO after a shakeup with Zhan late last year.

Biography

Jihan Wu is a prominent figure in the world of cryptocurrency and blockchain technology. As the co-founder of Bitmain Technologies Ltd., one of the largest and most influential companies in the crypto mining industry, Wu has played a significant role in shaping the landscape of digital currencies.

Born on October 10, 1986, in China, Jihan Wu developed an early interest in computer science and technology. He graduated from Peking University with a degree in economics and psychology. Wu's passion for decentralized systems and cryptography led him to discover Bitcoin in 2011.

In 2013, along with Micree Zhan, Jihan Wu co-founded Bitmain Technologies Ltd., headquartered in Beijing, China. Bitmain quickly gained recognition as a leading manufacturer of mining hardware, particularly ASIC (Application-Specific Integrated Circuit) miners. These specialized devices are designed to mine cryptocurrencies such as Bitcoin more efficiently than general-purpose computers or graphics cards.

Under Jihan Wu's leadership, Bitmain became a powerhouse in the crypto mining industry, dominating the market with its Antminer series of mining rigs. The company's mining equipment contributed significantly to the growth and development of blockchain networks, particularly Bitcoin.

Beyond hardware manufacturing, Jihan Wu played a pivotal role in advocating for the adoption and scaling of Bitcoin. He was an early supporter of Bitcoin Unlimited, a proposal aimed at increasing the block size limit to accommodate more transactions per block. This position led to his involvement in the Bitcoin scaling debate, where different factions within the community disagreed on the best approach to address the scalability challenges of the Bitcoin network.

Wu also played a crucial role in establishing and supporting the Bitcoin Cash (BCH) cryptocurrency, which emerged as a result of a hard fork from the original Bitcoin blockchain. Bitcoin Cash aimed to increase the block size limit to enable faster and cheaper transactions, in line with Wu's vision of scaling Bitcoin for widespread use.

In addition to his contributions to Bitmain and the Bitcoin ecosystem, Jihan Wu has been actively involved in various crypto-related initiatives and investments. He has backed numerous blockchain projects and startups, recognizing the potential for disruptive innovation in the broader cryptocurrency space.

While Wu's leadership and influence in the cryptocurrency industry have been significant, he stepped down as Bitmain's CEO in 2019. However, his contributions and entrepreneurial spirit have left a lasting impact on the development and growth of cryptocurrencies, particularly in the field of mining hardware and scaling debates. Jihan Wu's journey continues to inspire and shape the ongoing evolution of blockchain technology.


Vision

Jihan Wu's vision for the cryptocurrency industry has been focused on several key areas, including the widespread adoption of cryptocurrencies, the development of efficient mining infrastructure, and the advancement of blockchain technology.

One of Wu's primary goals has been to promote the adoption of cryptocurrencies, particularly Bitcoin, as a viable alternative to traditional financial systems. He envisions a future where cryptocurrencies become widely accepted and integrated into everyday transactions, allowing individuals to have greater control over their finances and reducing reliance on centralized intermediaries.


Recognition and Awards
In 2018 he was ranked number 3 in Fortune’s The Ledger 40 under 40 for transforming business at the leading edge of finance and technology. His net worth in 2018 was US $$2.39 billion.

References
Jihan Wu
Residence
Beijing, China
Occupation
Entrepreneur
Known for
Bitcoin Mining
Accolades
Wu claims to be the first person to translate the Bitcoin whitepaper into Mandarin Chinese.
Education
Peking University
Social Media
Mon Feb 26 2024
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