Mining

27/03/19 06:00 UTC-4

Bitmain: overdue application on HKEx and the new director of the company

Overdue stock-exchange application and new director of Bitmain
Overdue stock-exchange application and new director of Bitmain

On March 26th, Bitmain, the Chinese miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
manufacturer, announced a change in leadership. This happened a few hours after the Bitmain bid expired on the Hong Kong Stock-Exchange (HKEx).

The largest Chinese manufacturer of mining equipment has changed the director. On March 26th, it was reported that the presidency is now owned by Wang Haichao, and the company's founders, Jihan Wu and Mikri Zhang, will retire, but remain in board of directors.

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Bitmain – overdue application and change of leadership

On March 25th, a statement by Bitmain, a Chinese mining company, at HKEx became invalid. The application was not approved by the stock-exchange council, it is associated with low profitability and instability of the company. The six-month statement term expired on the evening of March 25, and in the morning of the 26th, the company announced a change of leadership.

On the Bitmain blog-site, it was announced how the events are developing in the mining arena and what strategic goals the company sets itself. The same message indicated a change in company management.

According to the report, the CEO of Bitmain will be Wang Haichao, who previously headed several departments of the company. At the same time, the founders of the company Jihan Wu and Mikri Zhang will remain on the board of directors and will deal with strategic development plans.

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"In accordance with the new operating model, we have made changes to our leadership. Mr. Wang Haichao was appointed CEO of the company (...) he successfully headed several departments in Bitmain. We are confident that due to his experience (...) he will offer our customers better products and services." – Bitmain, blog.

The Bitmain Company reported about the overdue application on HKEx and the new director of the company. Recall that the company previously suspended all mining operations in Texas, and also announced the dismissal of some employees.

Editor: Pereyidenko Ihor

See also: "JavaScript miner for Monero closes on the eve of the upcoming coin hardfork: reasons"

#cryptocurrency #mining #Bitmain #HKEx #miningmanufacturer #miningcompany

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