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Bitmain Co-founders In Forbes' Billionaires List


Chinese Cryptocurrency mining chip firm Bitmain's co-founders Jihan Wu and Micree Zhan are included in this year's Forbes' Billionaires List.

While both are placed lower in ranking, Wu has the distinction of being among the world's youngest billionaires. The 33-year-old cryptocurrency big shot is one among 71 billionaires under the age of 40.

The Chinese dual degree holder is currently one of the CEOs of Bitmain Technologies, and owns more than 20 percent of its shares. He is ranked at 1511 with a fortune of $1.5 billion.

Zhan, 40, just missed the under-40 category but is ranked higher than his colleague on Forbes' list at No. 838 with an asset of $2.7 billion. He is also a debutant on the billionaires list.

He is a co-CEO of Bitmain, and owns nearly 37 percent of the Beijing-based company.

Zhan is an electrical engineering graduate with expertise in chip design. It was he who built the ASIC chips that power Bitmain's hardware.

Founded in 2013, Bitmain is China's largest cryptocurrency mining-chip company, specializing in selling ASIC-chip miners.

Bitmain filed for an IPO in mid-2018, but it postponed those plans as the price of bitcoin plummeted, making Bitmain's business less profitable.

The richest under-40 billionaire is once again Mark Zuckerberg with a $62.3 billion fortune.

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