Wu Jihan, a legendary name in the currency circle, is also the number one person in the world of Bitcoin mining.
Wu Jihan, born in 1985, graduated from Peking University with a double major in psychology and economics. He currently serves as the CEO of Bitmain and is a recognized Bitcoin evangelist in the industry. He came into contact with Bitcoin as early as 2011, together with Chang Chai and others. Founded Babbitt and later founded the mining chip company Bitmain. Starting from the end of 2013, Wu Jihan gradually stopped being active in the Bitcoin community and gradually faded out of the currency circle, becoming one of the most mysterious tycoons in the Bitcoin circle.
Bitmain is a giant in the cryptocurrency industry covering all aspects of mining machines, mining pools, mines, and trading platforms. Among them, its Bitcoin mining pool AntPool is currently the largest Bitcoin mining pool in the world. The mining pool accounts for 20% of the industry's computing power and is one of the giants in the Bitcoin world.
Wu Jihan founded Bitcoin Continent after he quit Roast Cat, and he focused on starting his own business and producing mining machines. But he himself didn’t understand technology, so he found technology expert Zhan Ketuan and established Bitmain.
When Bitmain first launched Antminer, it coincided with the Bitcoin bear market, and the sales of the mining machine were very poor. So Bitmain developed a joint mining model. Let the miners mortgage their Bitcoins to Bitmain, and then Bitmain will distribute the mining machines to the miners. Everyone mines together, and Bitmain accounts for 85% of the revenue, while miners account for 15%.
One of Wu Jihan's pots of gold is closely related to Mr. Bao. Once the joint mining model came out, Bitmain received a steady stream of orders. Soon their mine could no longer accommodate the mining machines they produced, and Mr. Bao participated in Bitmain’s joint mining. He mortgaged 40,000 Bitcoins and got the first batch of Ant S3 mining machines. Then, Mr. Bao came to Inner Mongolia, a vast and sparsely populated country, rented land and built a mine. But Wu Jihan used despicable means to seize Erye Bao's mine in Inner Mongolia for only 4 million. From then on, Mr. Bao was squeezed out of the Bitcoin mining industry by Wu Jihan. We will talk about the story of Mr. Bao later.
In 2013, Bitcoin surpassed $1,000 for the first time by the end of the year. However, in 2014, Bitcoin plummeted due to questions about its security, causing Bitmain to face a crisis for the first time shortly after its establishment. The crisis was eventually resolved. From 2015 to 2017, Bitmain was singing all the way, with revenue increasing from US$137 million to US$2.518 billion, with a compound annual growth rate of 328.2%.
In 2018, as Bitcoin surged and plummeted, there were more and more rumors about Bitmain’s listing.
At the beginning of 2019, according to a core resigned employee, Bitmain had more than 3,000 employees at its peak. HR revealed that layoffs allowed only 30%-50% of the human budget to be retained, and the layoff ratio was as high as 50%-70%. After that, news of the closure of mines and the closure of foreign offices also broke out one after another.
Due to the rupture between the founders' control, the situation of Bitcoin Mainland was in danger. In October 2019, Jihan Wu used iron-fisted means to regain control of Bitmain and announced the dismissal of Ketuan Zhan from all positions in Bitmain.
Bitmain’s development process has elements of “gamble” and “persistence”. As the pioneer of China’s blockchain mining industry, Bitmain’s status is still second to none. China accounts for more than 70% of the world's Bitcoin mining operations and is largely responsible for this.
心有多大，梦想就有多大，大概就是吴忌寒性格的侧面写照。只是对于BCH，这世界存在跟吴忌寒同样执拗的人，三链资本杜江南就放出话来：如果吴忌寒像烤猫一样消失了，我会去相信BCH的。
