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Jihan Wu is no longer Bitmain’s legal representative, public records show

Yilun Cheng

Bitmain co-founder Jihan Wu is no longer the firm's official legal representative, public registration documents show.

According to enterprise information database Tianyancha, Wu ceased being Bitmain's legal representative on January 2. Luyao Liu, Bitmain's chief financial officer since 2018, replaced him as the company’s general manager and legal representative.

[caption id="attachment_52013" align="alignnone" width="800"]Source: Tianyancha[/caption]

Wu returned to Bitmain in October, triggering the start of a battle for control of the company that ultimately spilled into public view and resulted in the ouster of co-founder Micree Zhan. CoinDesk reported at the time that Zhan was previously listed as Bitmain's legal representative in public registration records.

Layoffs and a reshuffling of the company's existing workforce followed Wu's return.

That conflict entered a new phase last month when, as reported by Bloomberg, Zhan filed a lawsuit against Bitmain, in which he asked a court in the Cayman Islands to invalidate the shareholder decision that resulted in his ouster. He had previously threatened legal action against Bitmain, and he is now seeking to use the courts to try and regain control of the bitcoin mining giant.

A recent report from CoinShares found that Bitmain's market share slid in recent months even as China's bitcoin miner ecosystem remained a dominant force.

At the same time, Bitmain is pursuing business in South America, particularly in Brazil.