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Bitmain
Bitmain Technologies Ltd., is a privately held company, privately owned company headquartered in Beijing, China, that designs application-specific integrated circuit (ASIC) chips for bitcoin mining. History It was founded by Micree Zhan and Jihan Wu in 2013. Prior to founding Bitmain, Zhan was running DivaIP, a startup that allowed users to stream television to a computer screen via a set-top box, and Wu was a financial analyst and private equity fund, private equity fund manager. By 2018 it had become the world's largest designer of application-specific integrated circuit (ASIC) chips for bitcoin mining. The company also operates BTC.com and Antpool, historically two of the largest mining pools for bitcoin. In an effort to boost Bitcoin Cash (BCH) prices, Antpool "burned" 12% of the BCH they mined by sending them to irrecoverable addresses. Bitmain was reportedly profitable in early 2018, with a net profit of $742.7 million in the first half of 2018, and negative operating cas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jihan Wu
Jihan Wu (; born 1986) is a Chinese billionaire cryptocurrency entrepreneur. Together with Micree Zhan, he co-founded Bitmain in 2013, which has become the world's largest computer chip company for bitcoin mining, with US$2.5 billion in revenue in 2017. He is a leading supporter of Bitcoin Cash, a hard fork of bitcoin created in 2017 with increased transaction capacity. He topped The World's Billionaires, Forbes' 2020 World’s Billionaires List as one of the five youngest billionaires in Asia. He is the owner of Le Freeport. Early life and career Wu was born in 1986 in Chongqing, China. After graduating from Chongqing Nankai Secondary School, he entered Peking University, earning dual degrees in economics and psychology in 2009. After graduating from university, Wu worked as a financial analyst for a private equity firm. In May 2011, he discovered Bitcoin and raised 100,000 yuan (US$15,373 as of 2011) from family and friends to purchase 900 bitcoins. He and fellow Bitcoin en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Micree Zhan
Micree Zhan or Zhan Ketuan (; born 29 January 1979) is a Chinese electronics engineer and businessman. He is the co-founder and CEO (with Wu Jihan) of Bitmain, the world's largest computer chip company for cryptocurrency mining. In 2018, Hurun Report named him the richest cryptocurrency billionaire in the world. In 2019, Bloomberg ranked Zhan as the world's 9th richest self-made billionaire aged 40 or younger, with a net worth of US$5.2 billion. Early life and education Zhan Ketuan was born on 29 January 1979 in Minhou County, Fujian, China. After graduating from Minhou No. 1 High School, he entered Shandong University, where he earned a bachelor's degree in electronics engineering in 2001. He then earned his master's degree in microelectronics engineering from the Institute of Microelectronics, Chinese Academy of Sciences in 2004. Career After earning his master's degree, Zhan worked as an engineer at the Information Technology Research Institute at Tsinghua University. H ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mining Pool
In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial proof-of-work. Mining in pools began when the difficulty for mining increased to the point where it could take centuries for slower miners to generate a block. The solution to this problem was for miners to pool their resources so they could generate blocks more quickly and therefore receive a portion of the block reward on a consistent basis, rather than randomly once every few years. History * November 2010: Slush launched in 2010 and is the first mining pool. * 2011–2013: The era of deepbit, which at its peak held up to 45% of the network hashrate. * 2013–2014: Since the introduction of ASIC, and when deepbit failed to support the new ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitcoin Cash
Bitcoin Cash (also referred to as Bcash) is a cryptocurrency that is a fork of bitcoin. Launched in 2017, Bitcoin Cash is considered an altcoin or spin-off of bitcoin. In November 2018, Bitcoin Cash further split into two separate cryptocurrencies: Bitcoin Cash (BCH) and Bitcoin Satoshi Vision (BSV). History Since its inception, bitcoin users maintained a common set of rules for the cryptocurrency. On 21 July 2017, bitcoin miners implemented a software upgrade known as Bitcoin Improvement Proposal (BIP) 91, which activated the Segregated Witness (SegWit) upgrade at block 477,120. SegWit was a contentious update as it enabled second-layer solutions on bitcoin, such as the Lightning Network. A group of bitcoin activists, developers, and China-based miners opposed the proposed SegWit upgrades designed to increase bitcoin's capacity; these stakeholders pushed forward alternative plans which would increase the block size limit to eight megabytes through a hard fork. Supporte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privately Held Company
A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equity, company's stock is offered, owned, traded or exchanged privately, also known as "over-the-counter (finance), over-the-counter". Related terms are unlisted organisation, unquoted company and private equity. Private companies are often less well-known than their public company, publicly traded counterparts but still have major importance in the world's economy. For example, in 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for $1.8 trillion in revenues and employed 6.2 million people, according to ''Forbes''. In general, all companies that are not owned by the government are classified as private enterprises. This definition encompasses both publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renminbi
The renminbi ( ; currency symbol, symbol: Yen and yuan sign, ¥; ISO 4217, ISO code: CNY; abbreviation: RMB), also known as the Chinese yuan, is the official currency of the China, People's Republic of China. The renminbi is issued by the People's Bank of China, the Central bank, monetary authority of China. It is the world's Template:Most traded currencies, fifth-most-traded currency as of April 2022. The Yuan (currency), yuan () is the basic unit of the renminbi. One yuan is divided into 10 Jiao (currency), jiao (), and the jiao is further subdivided into 10 Fen (currency), fen (). The word ''yuan'' is widely used to refer to the Chinese currency generally, especially in international contexts. Valuation Until 2005, the value of the renminbi was Fixed exchange-rate system, pegged to the United States dollar, US dollar. As China pursued its Chinese economic reform, transition from planned economy, central planning to a market economy and increased its participation in foreign ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cayman Islands
The Cayman Islands () is a self-governing British Overseas Territories, British Overseas Territory, and the largest by population. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located south of Cuba and north-east of Honduras, between Jamaica and Mexico's Yucatán Peninsula. The capital city is George Town, Cayman Islands, George Town on Grand Cayman, which is the most populous of the three islands. The Cayman Islands is considered to be part of the geographic Western Caribbean zone as well as the Greater Antilles. The territory is a major offshore financial centre for international businesses and High-net-worth individual, the rich mainly due to the state charging no tax on income earned or stored. With a GDP per capita of US$97,750 in 2023, the Cayman Islands has the highest standard of living in the Caribbean, and one of the highest in the world. Immigrants from over 140 countries and territories reside in the Cayman I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset-protection Trust
In trust law, an asset-protection trust is any form of trust which provides for funds to be held on a discretionary basis. Such trusts are set up in an attempt to avoid or mitigate the effects of taxation, divorce and bankruptcy on the beneficiary. Such trusts are therefore frequently proscribed or limited in their effects by governments and the courts. The asset-protection trust is a trust that splits the beneficial enjoyment of trust assets from their legal ownership. The beneficiaries of a trust are the beneficial owners of equitable interests in the trust assets, but they do not hold legal title to the assets. Thus this kind of trust fulfills the goal of asset protection planning, i.e. to insulate assets from claims of creditors without concealment or tax evasion. A creditor's ability to satisfy a judgment against a beneficiary's interest in a trust is limited to the beneficiary's interest in such trust. Consequently, the common goal of asset protection trusts is to limit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme People's Court
The Supreme People's Court of the People's Republic of China (SPC) is the highest court of the People's Republic of China. It hears appeals of cases from the high people's courts and is the trial court for cases about matters of national importance. According to the Constitution of China, the Supreme People's Court is accountable to the National People's Congress. The court has about 400 judges and more than 600 administrative personnel. The court serves as the highest court for the People's Republic of China and also for cases investigated by the Office for Safeguarding National Security in Hong Kong. The special administrative regions of Hong Kong and Macau have separate judicial systems based on British common law traditions and Portuguese civil law traditions respectively, and are out of the jurisdiction of the Supreme People's Court. History The Supreme People's Court was established on 22 October 1949 and began operating in November 1950. At least four members ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Entity List
The Entity List is a trade restriction list published by the United States Department of Commerce's Bureau of Industry and Security (BIS), consisting of certain foreign persons, entities, or governments. It is published as Supplement 4 of Part 744 of the Code of Federal Regulations. Entities on the Entity List are subject to U.S. license requirements for the export or transfer of specified items, such as some U.S. technologies. However, U.S. persons or companies are not prohibited from purchasing items from a company on the Entity List. Being included on the Entity List is less severe than being designated a " denied person" and more severe than being placed on the Unverified List (UVL). First published in 1997 to inform the public on entities involved in disseminating weapons of mass destruction, the list has since expanded to include entities that engaged in "activities sanctioned by the State Department and activities contrary to U.S. national security and/or foreign p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Department Of Commerce
The United States Department of Commerce (DOC) is an executive department of the U.S. federal government. It is responsible for gathering data for business and governmental decision making, establishing industrial standards, catalyzing economic development, promoting foreign direct investment, and safeguarding national economic security. The Department of Commerce is one of four federal agencies authorized to appoint personnel in the United States Foreign Service, and its NOAA Corps — formerly the Coast and Geodetic Survey Corps — is one of the eight branches of the uniformed services of the United States. During a large-scale disaster or catastrophe, it assumes the coordinating responsibilities for the economic recovery support function under the national disaster recovery framework. Since 2023, it has led U.S. government activities related to safe artificial intelligence development and, from 1913 to 1939, it managed the National Aquarium. The department is head ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hong Kong Stock Exchange
The Stock Exchange of Hong Kong (, SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. It is one of the largest stock exchanges in Asia and the List of major stock exchanges, 9th largest globally by market capitalization as of August 2024. The exchange plays a crucial role in connecting international investors with Mainland China, mainland Chinese companies, serving as a major platform for capital raising. Unlike Chinese stock exchanges (other), mainland Chinese exchanges, it operates under Hong Kong’s distinct regulatory framework, which allows greater access to foreign investors. The stock exchange is owned (through its subsidiary Stock Exchange of Hong Kong Limited) by Hong Kong Exchanges and Clearing, Hong Kong Exchanges and Clearing Limited (HKEX), a holding company that it also lists () and that in 2021 became the world's largest bourse operator in terms of market capitalization, surpassing Chicago-based CME Group, CME. A 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
