Chinese cryptocurrency mining giant Bitmain has reportedly undergone a board reshuffle leading to CEO Jihan Wu losing his influential position in the company’s decision-making processes.

Citing company information registered with the local government, Chinese media outlet 8btc reported last week that four out of six directors had quit Bitmain’s board. Among them is Jihan who has lost his seat as the board’s executive director and now serves as a supervisor with no voting rights.

“As a director, Jihan had the right to vote when the board makes decisions. However, after changing to a supervisor, his power becomes smaller that [sic] he can no longer vote. As thus, Wu wi…

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