In the volatile world of cryptocurrency, few figures have risen as quietly yet powerfully as Wu Jihan — the post-85s entrepreneur from Peking University who co-founded Bitmain, the world’s largest bitcoin mining organization. While public attention often lands on high-profile names like Li Xiaolai, many in the crypto community believe the true title of China’s Bitcoin首富 (wealthiest individual in bitcoin) belongs to Wu Jihan.
From Psychology Graduate to Crypto Visionary
Wu Jihan’s journey into the world of digital currency began not in a tech lab, but in the halls of Peking University, where he earned dual degrees in psychology and economics. His early interests hinted at a future shaped by innovation and decentralized thinking — his favorite film was The Matrix, and he frequently cited Jim Rogers' Investment Biker as a key influence.
After graduation in 2009 — the same year Satoshi Nakamoto introduced Bitcoin — Wu entered the investment sector as a venture capital analyst. But it wasn’t until 2011 that he encountered Bitcoin firsthand. Recognizing its revolutionary potential, he made a bold move: he invested his entire life savings into BTC, becoming one of China’s earliest and most committed adopters.
👉 Discover how early believers turned small investments into massive returns
Co-Founding the Voice of Chinese Crypto: Bitanb.com (Babbitt)
Wu wasn’t alone in his fascination. Around the same time, science fiction writer Changjia — real name Liu Zhipeng — was also diving deep into Bitcoin. A three-time winner of the Galaxy Award for science fiction (sharing the stage with Liu Cixin’s The Three-Body Problem), Changjia brought narrative vision to the tech movement.
In 2011, Wu joined forces with Changjia and Laoduan to launch Bitanb.com, later known as Babbitt, a leading Chinese platform for cryptocurrency news and community discussion. This became a foundational hub for spreading blockchain awareness across China.
By 2014, the platform evolved into Hangzhou Shicuo Information Technology Co., Ltd., with Changjia holding a 95% stake. But while Babbitt fueled education and discourse, Wu had already set his sights on something more tangible: controlling the infrastructure behind Bitcoin itself.
Building Bitmain: Powering the Backbone of Bitcoin Mining
Wu understood early on that wealth in crypto isn’t just made through trading — it’s built through infrastructure. As Bitcoin’s value grew, so did the difficulty of mining. The process required more computing power, more energy, and more efficient hardware.
Enter Jihan Wu and Micree Zhan.
Though Wu lacked technical expertise, he had vision. He found his counterpart in Micree Zhan, a Tsinghua University computer science graduate running a set-top box company called DivaIP. Their meeting was serendipitous — a street-side sales pitch brought Zhan onto Wu’s radar.
In 2013, Wu handed Zhan a printout of the Bitcoin whitepaper. Two hours later, Zhan agreed to co-found Bitmain.
The company quickly acquired Zhan’s former business and began developing ASIC miners — specialized machines designed solely for mining cryptocurrencies. Their first major breakthrough came with the Antminer S5, launched during one of Bitcoin’s darkest periods.
Surviving the Crypto Winter
Bitcoin crashed hard after peaking at $1,200 in late 2013. By early 2014, Mt. Gox — then the world’s largest exchange — collapsed after losing 850,000 BTC to hackers. Confidence waned. Mining became less profitable due to rising costs and falling prices.
Bitmain struggled. Sales dropped. Bankruptcy loomed.
But Zhan continued refining their technology. The Antminer S5 slashed power consumption by nearly one-third compared to earlier models. When Bitcoin rebounded in mid-2015, miners rushed back — and they chose Antminers.
Bitmain survived — and then dominated.
Scaling the Global Mining Empire
Today, Bitmain is the world’s largest manufacturer of cryptocurrency mining equipment and operates some of the biggest mining farms globally. While exact ownership stakes are private, Wu’s role as CEO and strategic mind places him at the center of immense influence and wealth.
Despite not being a coder or engineer, Wu’s ability to identify trends, recruit talent, and scale operations has defined his success. Under his leadership, Bitmain expanded beyond Bitcoin to support Litecoin, Ethereum, and other major blockchains.
According to Bloomberg reports, investors like Sequoia Capital and IDG Capital have shown strong interest in Bitmain. Industry insiders estimate that at its peak, Bitmain generated $30 million monthly in profit — nearly 200 million RMB — translating to over 1 billion RMB in net profit per half-year.
👉 See how modern traders leverage market cycles for long-term gains
Core Keywords & SEO Strategy
This article naturally integrates high-value keywords aligned with search intent around cryptocurrency leadership, mining innovation, and wealth creation:
- Bitcoin mining
- Cryptocurrency billionaire
- Bitmain
- Bitcoin infrastructure
- ASIC miner
- Post-85s entrepreneur
- Peking University alumni
- Mining profitability
These terms appear contextually throughout headings and body content to enhance visibility without compromising readability.
Frequently Asked Questions (FAQ)
Q: Who is considered the real Bitcoin billionaire from China?
A: While Li Xiaolai gained fame as an early investor, many experts believe Jihan Wu, co-founder of Bitmain, holds greater wealth due to his control over mining infrastructure and long-term holdings.
Q: What is Bitmain’s role in the crypto ecosystem?
A: Bitmain designs and manufactures ASIC miners used to mine Bitcoin and other proof-of-work cryptocurrencies. It also runs large-scale mining farms, giving it significant influence over network hash rate.
Q: How did Wu Jihan get into cryptocurrency?
A: He first learned about Bitcoin in 2011 and invested all his savings into it. Inspired by its decentralized nature, he later co-founded Babbitt.com before launching Bitmain in 2013.
Q: Is Bitmain still dominant in mining today?
A: Yes. Despite increased competition from companies like Canaan and MicroBT, Bitmain remains a market leader thanks to its Antminer series and global supply chain reach.
Q: Why is Wu Jihan less public than other crypto figures?
A: Unlike Li Xiaolai or Changpeng Zhao, Wu maintains a low public profile. He rarely gives interviews or promotes himself, focusing instead on operations and long-term strategy.
👉 Learn how quiet innovators shape the future of finance
Conclusion: The Quiet Architect of Crypto Power
Jihan Wu represents a new breed of tech entrepreneur — one who builds empires not through self-promotion, but through relentless execution. From a psychology graduate inspired by The Matrix to the CEO of the world’s most powerful mining company, his story reflects the transformative potential of blockchain technology.
His journey underscores a key truth in cryptocurrency: real power often lies not with those who trade the most, but with those who build the machines that keep the network alive.
As Bitcoin continues evolving, figures like Wu Jihan remind us that behind every digital coin is a complex web of innovation, infrastructure, and vision — powered by people who saw the future before anyone else did.