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Bitmain CEO claims to not have any secret mining plans!

Prerana Sarkar

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Bitmain CEO claims to not have any secret mining plans?
Source: Pixabay


On June 9th, the CEO of Bitmain, Jihan Wu denied that the hardware manufacturing and the mining company secretly used its newly developed devices way before making them public.

The statement was made during an interview with Fortune, about the several rumors and clarifications from earlier reports, Bitmain has been accused of secretly mining with the help of those very devices for several months now.

Jihan Wu, the CEO said :

“No, it never happened. We have a small scale test. We, don’t do that. That is not our strategy.”

Following Monero’s hard fork, a joint discussion created suspicions among the Bitmain community. Much of the hash rate continued to be mined on the old chain. Bitmain’s Cryptonite ASIC was however not yet made public where the mining algorithm was altered.

Wu also stated:

“There is some kind of group of people that control the majority of the hash rate for monero. I would like to say that to develop such a kind of ASIC is not a kind of secret skill that only Bitmain has.”

The CEO also made allegations for not having any plans of wasting his time and energy on the resources that could lead to such a mess.  

Wu also claimed :

“ Right after we have the sample machines working, we start sales to the market.”

According to reports, the company has finally decided to consider going public via Initial Public Offering [IPO] in Hong Kong and the US. Some analysts have predicted that the true worth is almost around $9 billion.

On 4th of June, the Bitmain community tweeted:

“Our production teams are working continuously to ensure a speedy shipment of the next round of Antminer Z9 mini miners. We should have updates from the next (bigger) round around 15 June. Stay tuned.”





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Prerana Sarkar is a part of AMBCrypto's News Reporting Team from January 2018. She is a Journalism major from Mount Carmel with two years of writing experience in Bitcoin and Blockchain related articles. Prerana does not hold any value in cryptocurrency or its projects

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