March 26, the world’s leading cryptocurrency mining equipment manufacturer Bitmain has officially announced the end of its “co-CEO” era, confirmed the appointment of Haichao Wang as the new CEO.

“Mr. Haichao Wang has been appointed as CEO of the company. Haichao not only has extensive experience in the chip industry but also successfully headed-up multiple departments at Bitmain. We are confident that through his experience and passion, he will drive better products and services for our customers. Mr. Micree Zhan and Mr. Jihan Wu, the co-founders of Bitmain, will continue to be our directors to guide the company’s strategic development,” Bitmain wrote in its official blog.

The new CEO that replaced Jihan Wu and Micree Zhan was the former director of Bitmain’s product engineering team and the transition period started last December as 8BTC reported.

Nevertheless, Bitmain didn’t disclose much information about Haichao, and he is not famous in the community neither, many may be curious about this new CEO.

According to Wang’s LinkedIn, before becoming the CEO, he served as product engineering director for one year and 10 months. During this time, Haichao established the Product Engineering Department and led the team to increased production by 10 times within half a year. He also won Bitmain’s “CEO Award” twice for his outstanding performance in 2018.

Haichao’s CV shows his work experience as the product engineering director end last December which matches with the time he started to take over CEO duties.

According to previous reports from the South China Morning Post, Haichao graduated Tsinghua University. After graduating, he worked at semiconductor company Avalink for nearly 7 years.

Wang has 9 years of experience in chip R&D. In the future, he will lead the firm to align focus on cryptocurrency and AI chips and establish clear business divisions for mining hardware, AI, mining farms, and mining pools, then refile for a public listing at an “appropriate time”.