Who is Jihan Wu? Net Worth, Bitmain Empire & Insights
Jihan Wu is a Chinese billionaire and cryptocurrency entrepreneur who has dramatically changed the blockchain industry as the co-founder of Bitmain Technologies, which is the biggest producer of Bitcoin mining devices of the world. Best known for his strategic vision and technical talent, Wu made Bitmain ruler in crypto mining, as well as advocate for bitcoin cash and launch ventures such as Matrixport and Bitdeer. His game not only in hardware but also his influence on financial services, decentralized technologies make him an important player in the crypto world. This article looks at Wu’s Bitmain empire, his net worth from estimates, his crypto-related ventures, and what he believes the future holds for blockchain.
The Establishment of Bitmain and Building of Mining Empire
During the year 2011, Jihan Wu, discovered bitcoin and was amazed by the ability of the crypto to cause disruptions to the old finance. He boasts to be the first to have translated Satoshi Nakamoto’s Bitcoin white paper to Mandarin thus creating the initial Bitcoin community of China. Wu teamed up with microelectronics engineer Micree Zhan in 2013 to co-found Bitmain Technologies, in order to produce specialized Bitcoin mining hardware. Wu took care of business operations, while Zhan dealt with technical innovation that led to development of Antminer S1, which was Bitmain’s first mining rig that was unveiled in November 2013.
Bitmain became established very fast, taking advantage of the increased demand for efficient mining hardware. The Antminer S5 was the best-selling mining equipment by 2015 and the revenue of Bitmain reached $2.5 billion by 2017 (reported by Bloomberg). By 2018, the company’s mining pools, Antpool and BTC.com, held over 40% of computing power used globally within the Bitcoin network, triggering fears to purists on centralized authority. Wu’s 20% ownership of Bitmain (compared to Zhan’s 36%) emphasised his substantial but subordinate ownership. Bitmain’s failed 2018 Hong Kong IPO attempt and filing for an IPO in the U.S. in 2019 showed Wu’s ambition to scale even though internal squabbles would eventually change direction.
The Bitcoin Cash Advocacy and the Blocksize Wars
Wu came out as a fierce advocate of Bitcoin Cash (BCH) – a 2017 hardfork of the Bitcoin currency that seeks to increase its transaction capacity through block size expansion from 1MB to 8MB. He claimed that Bitcoin had poor throughput (seven transactions per second) thus hampering its ability to be used to move digital cash, a statement he made in a 2017 interview with CoinDesk. The support of Wu for BCH which was purportedly carried by Bitmain-funded mining pool, ViaBTC, attracted criticisms of masterminded the split, and thus earning the moniker Jihad. He did not admit direct involvement, though the role played by Bitmain during the “Blocksize Wars” was undeniable, as its mining power stirred the debate about the scaling of Bitcoin.
The community divisions were further divided when Bitcoin Cash split in 2018 into BCH ABC (supported by Wu) and BCH SV. Wu’s efforts of pushing for BCH ABC that involved bigger block adoption sought to protect BCH vision as a transactional currency. However, the lower market value of BCH, as compared to that of Bitcoin, erased BitMain’s dominance, as reported in a 2021 article in Protos. Wu’s emphasis on the BCH also demonstrated his willingness to defy the traditionalists of the Bitcoin world, at the price of his clout in the general Bitcoin world.
Net Worth and Financial Ventures
It’s estimated that the net worth of Jihan Wu is within, $1.8 billion to $2.39 billion, as of 2025, (according to Valuewalk and Hurun Report). His wealth mainly comes from 20% ownership of Bitmain, early Bitcoin investments (including 900 BTC bought in 2011), and Matrixport, Bitdeer, etc. He was ranked by Hurun as China’s second richest crypto entrepreneur, after Zhan with a maximum net worth of 2.39 billion dollars in 2018. In 2020, Forbes identified him as one of the top five youngest billionaires in Asia – this was a demonstration of his financial success.
Wu left Bitmain after fisticuffs with Zhan in 2021, creating BTC.com and spin-off Bitdeer, of which he is chairman. In 2023, Bitdeer, a cloud mining-based platform went public on Nasdaq and was valued at $1.18 billion and gained 122% shares in 2024 after an announcement of buyback. In 2021, Wu’s 2019-established crypto financial services firm, the Matrixport, received $1 billion valuation, with assets of over $10 billion in its management. Additional asset diversification came in form of his 2022 purchase of Le Freeport, a Singaporean Vault for $28.4 Million dollars.
| Aspect |
Details |
| Primary Role |
Co-founder of Bitmain, Chairman of Bitdeer, CEO of Matrixport |
| Estimated Net Worth |
$1.8 billion – $2.39 billion (Bitmain stake, Bitcoin, Matrixport, Bitdeer) |
| Key Ventures |
Bitmain, Matrixport, Bitdeer, Le Freeport, Bitcoin Cash advocacy |
| Major Achievements |
Forbes 2020 Billionaires List, Fortune’s Ledger 40 under 40 (No. 3, 2018) |
| Focus Areas |
Bitcoin mining, decentralized finance, blockchain scalability |
New Ventures and Blockchain Vision
Post-Bitmain, Wu has focused on Matrixport and Bitdeer, emphasizing decentralized finance (DeFi) and sustainable mining. Matrixport offers trading, lending, and custody services, targeting high-net-worth clients, and supports major cryptocurrencies like Bitcoin, Ethereum, and Bitcoin Cash. In a 2021 Forbes interview, Wu predicted the crypto market could grow to “tens of trillions,” with DeFi as a key driver. Bitdeer operates mining data centers in the U.S., Norway, and Bhutan, promoting energy-efficient practices, a shift Wu emphasized in a 2023 Facts.net article.
Wu’s vision extends to decentralized autonomous organizations (DAOs). In a 2022 Business Insider interview, he expressed bullishness on DAOs, envisioning them running businesses and cultural institutions, and aims to enable DAO investments through Matrixport. His 2024 involvement with the Conflux Foundation, developing a scalable blockchain, underscores his commitment to advancing blockchain technology beyond Bitcoin. Wu’s foresight in relocating Bitdeer’s mining operations outside China, as noted in a 2021 X post, helped him navigate China’s crypto bans.
Challenges and Controversies
Wu’s career has not been without turbulence. His 2021 exit from Bitmain followed a bitter power struggle with Zhan, culminating in Wu’s emotional pledge to “save the company,” as reported by Binance in 2024. Critics accused him of manipulating Bitcoin prices through Bitmain’s mining dominance, particularly during the 2018 BCH fork. The crypto community remains divided, with some on X in 2022 labeling him a “bcash” proponent who weakened Bitmain’s Bitcoin influence. Regulatory crackdowns in China, including a 2021 mining ban, forced Wu to pivot Bitdeer and Antpool to Singapore.
Despite setbacks, Wu’s resilience and innovation have earned accolades, including CoinDesk’s 2017 top 10 blockchain influencers and Fortune’s 2018 Ledger 40 under 40 (No. 3). His philanthropy, such as supporting blockchain education, and advocacy for sustainable mining enhance his legacy.
5 FAQs About Jihan Wu
What is Jihan Wu’s role in the crypto industry?
Wu co-founded Bitmain, the largest Bitcoin mining hardware maker, and leads Matrixport and Bitdeer, focusing on DeFi and cloud mining.
What is Bitmain, and why is it significant?
Bitmain, co-founded by Wu in 2013, dominates Bitcoin mining hardware with Antminer rigs and controls major mining pools like Antpool.
What is Jihan Wu’s net worth?
His net worth is estimated at $1.8 billion to $2.39 billion, from Bitmain, Matrixport, Bitdeer, and early Bitcoin investments.
Why does Jihan Wu support Bitcoin Cash?
Wu backs Bitcoin Cash for its larger block sizes, enabling faster, cheaper transactions compared to Bitcoin’s limited capacity.
What are Wu’s current ventures?
Wu chairs Bitdeer, a Nasdaq-listed mining platform, and leads Matrixport, a $1 billion-valued crypto financial services firm.
Conclusion
Jihan Wu’s transformation of Bitmain into a crypto mining juggernaut, coupled with his advocacy for Bitcoin Cash and ventures like Matrixport and Bitdeer, marks him as a titan of blockchain innovation. His net worth of $1.8 billion to $2.39 billion reflects his strategic investments, while his vision for DeFi and DAOs positions him at the forefront of crypto’s future. Despite controversies and regulatory challenges, Wu’s technical expertise and optimism—predicting a multi-trillion-dollar crypto market—ensure his lasting impact. As blockchain evolves, Wu’s empire continues to drive decentralization and technological progress.
