Mining equipment manufacturer Bitmain has appointed Feng Zhou as legal representative of the legal entity and CEO, according to the company’s WeChat message.
The announcement was made on October 28 at a meeting in honor of the company’s eight years. According to the statement, Bitmain expects “Zhou’s rich experience in supply chain management is sure to usher in a shiny new chapter.”.
He acted as deputy co-founder of Bitmain Ketuan Zhang during the conflict between company founders Jihan Wu and Mikri Zhang. The confrontation continued throughout 2020, negatively affecting the company’s activities.
“Ketuan Zhang will continue to serve as chairman of Bitmain Group, focusing on the company’s technical direction, talent training and strategic planning,” the statement said.
Official repair site Asic for mining cryptocurrency on the blockchain at reasonable prices.
The legal representative of a company in Chinese corporate law acts as a representative of a legal entity and acts without additional issuance of a power of attorney.
This status can be obtained by the chairman of the board of directors, the executive (in the absence of the board of directors) or the CEO.
As a reminder, on December 19, 2020 it became known that Wu and Zhang entered into an agreement. Its terms provided for the payment of the first compensation in $ 600 million, the transfer of the BTC pool.com with BitDeer cloud platform and mining farms outside of China.
Bitmain shareholders later approved the terms of Jihan Wu’s exit from the company.
In January 2021, he announced his resignation from the post of CEO of the company.