Bitdeer: Wu to Take Over as CEO in March

Bitdeer Technologies Group, a crypto mining firm, revealed that the chairman of the company’s board of directors and former Bitmain CEO Jihan Wu will be assuming the role of CEO at Bitdeer from March 1 2024, as Linghui Kong transitions to the company’s chief business officer.

 Overview

On January 29 2024, Bitdeer announced that Mr Jihan Wu will continue to serve as the chairman of the company’s board in addition to his new position as CEO. The statement also revealed that the current firm’s CEO, Linghui Kong, will proceed to serve as a member of the company’s board starting on March 1 2024. Founder and chair of Bitdeer Jihan Wu thanked Linghui for providing Bitdeer with valuable contributions for the past three years he has been CEO.

The chairman suggested that their roles will enable them to contribute to Bitdeer’s long-term development and position them to capitalise on emerging strategic growth opportunities fully. Wu added, “I am proud of the success Bitdeer has achieved thus far, and I am excited to lead our team through a new era of strategic development. In the future, we will allocate our resources to develop cutting-edge technologies, cultivate a strong leadership team, attract more high-calibre individuals to join our ranks, and further bolster our corporate culture.”

The chairman also said that through their efforts and ongoing commitment to excellence, Bitdeer could develop into a preeminent technology enterprise. Kong mentioned that “serving as Bitdeer’s CEO since 2021 has been an extraordinary journey, filled with numerous accomplishments and invaluable experience.” 

Background into Bitdeer Technologies Group

Bitdeer Technologies Group is a world-leading technology firm for blockchain and high-performance computing that aims to provide comprehensive computing solutions for its users. Bitdeer handles complicated processes engaged in computing, like daily operations, equipment management, data centre planning and construction, transport logistics, and equipment procurement. Customers with a high demand for artificial intelligence are offered advanced cloud capabilities. Bitdeer is headquartered in Singapore and has deployed data centres in Norway, Bhutan and the United States.

The crypto company provides cloud-mining services through its US-based data centres in Texas, Tennessee and Washington. The crypto mining firm was founded by Wu in 2020 amid his departure from Bitmain, a mining chip manufacturer that he co-founded with Micree Zhan in 2013. Wu is also the founder of crypto financial services firm Matrixport, which made waves in January 2024 when its report from its analysts speculated that the United States Securities and Exchange Commission would not approve its spot Bitcoin exchange-traded funds listing. In a post on X, Wu emphasised that Matrixport analysts operated independently without any influence from management.

Other Developments by Bitdeer

On August 9 2023, Bitdeer agreed with B.Riley Financial to sell up to $150 million of its Class A ordinary shares. The filing with the US SEC revealed that Bitdeer has the right to sell a specified number of its shares to B. Riley over three years with no obligation. The agreement highlighted that B. Riley’s Bitdeer ownership would not exceed 4.99%. In May 2023, Bitdeer collaborated with Druk Holding and Investments (DHI) to design an eco-friendly, carbon-free digital asset mining enterprise.

Fhumulani Lukoto Cryptocurrency Journalist

Fhumulani Lukoto holds a Bachelors Degree in Journalism enabling her to become the writer she is today. Her passion for cryptocurrency and bitcoin started in 2021 when she began producing content in the space. A naturally inquisitive person, she dove head first into all things crypto to gain the huge wealth of knowledge she has today. Based out of Gauteng, South Africa, Fhumulani is a core member of the content team at Coin Insider.

View all posts by Fhumulani Lukoto >

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