Wu Jihan's Decade: From Bitcoin Evangelist to Crypto Finance Operator

On an afternoon in 2011, a 25-year-old Peking University student unearthed a white paper filled with mathematical formulas, unable to sleep that night. The document changed Wu Jihan’s life trajectory and also propelled the birth of an industry. From an initial full-position investment of 100,000 yuan to now controlling a global computing network, Wu Jihan has written the most legendary story in the cryptocurrency field over ten years. Every step he takes is redefining the rules of the blockchain industry.

White Paper Translation: From Geek to Evangelist in the Chinese World

When Wu Jihan first encountered the Bitcoin white paper, this technical document was still little known. With a background in psychology, he did not choose to wait and see but immediately invested his entire savings of 100,000 yuan—at that time, Bitcoin was priced below $10 each. The laughter of those around him did not stop him; instead, it motivated Wu Jihan to immerse himself in translating this English white paper.

Between 2011 and 2013, Wu Jihan became one of the earliest Bitcoin promoters in the Chinese-speaking world. He not only completed the Chinese translation of the white paper but also co-founded China’s first blockchain media outlet, “BaiduBit,” building a hub for industry information. In forums, he engaged in fierce debates with netizens about the value of “decentralization,” conveying complex technical concepts to ordinary people in the simplest language.

During this phase, Wu Jihan was a true thinker. He understood what Bitcoin represented—the vision of financial democratization. It was this unwavering pursuit of ideals that kept his judgment clear in every subsequent decision.

Chip Revolution: How Antminer Dominated 75% of the Global Market

In 2013, Bitcoin’s price soared above $1,000, igniting a global mining boom. Wu Jihan keenly perceived this opportunity—mining machines were the real gold mine.

He teamed up with Tsinghua University’s tech genius, Zhan Ketuán, to develop the Antminer S1 in a modest rented house in Beijing. This miner adopted the most advanced ASIC chip design at the time, with a leading energy efficiency ratio. Within just half a year of launch, Antminer captured 75% of the global market share.

By 2016, Wu Jihan’s team launched the Antminer S9, which completely redefined industry standards for energy efficiency. Countless miners summarized Wu Jihan’s contribution with a single sentence: “Without his miners, mining electricity costs wouldn’t even be profitable.” As a result, Bitmain emerged suddenly, with revenue comparable to Silicon Valley tech giants, earning Wu Jihan the title of “Mining Tyrant.”

Behind this title lies solid strength—he not only controls the lifeblood of global hash power but also redefines what efficient mining is through technological innovation. The monopoly in the miner market made Wu Jihan one of the most influential figures in the entire cryptocurrency world.

Power Battle: Wu Jihan and the Fork of Bitcoin

In 2017, the crypto world exploded. Wu Jihan made a bold decision: to launch Bitcoin Cash (BCH) and challenge the Bitcoin protocol. This was not just a technical fork but a power struggle.

This fork triggered a rare “hash power war” in the history of cryptocurrencies. Wu Jihan led a pool alliance, using his vast hash power to confront the Bitcoin community in a prolonged standoff. He calmly responded to doubts: “Technological progress requires someone to dare to forge new paths.”

Although BCH ultimately did not fully surpass BTC, this war gave Wu Jihan complete control over the discourse in setting the underlying protocol of cryptocurrencies. He deeply participated in the game of industry rules, becoming a true rule-maker.

In 2018, Bitmain’s IPO plans faced setbacks, and Wu Jihan and Zhan Ketuán parted ways due to strategic differences. But he did not stop. He retained the mining pool business, incubated a new platform called BitLittle Deer, and even personally went to Inner Mongolia’s mines to eat and live with miners. During that time, Wu Jihan, a psychology major from Peking University, joked: “My university major is useless now; I’ve learned how to repair mining machines instead.”

It was this down-to-earth resilience that helped him rise again after setbacks.

Financial Breakthrough: From Mining King to Asset Management Innovator

Wu Jihan’s vision extended beyond mining machines. In 2019, he founded Matrixport, attempting to solve security issues in crypto finance through innovative models. The newly created “safety cushion” model for crypto asset management broke through traditional risk constraints. Matrixport’s managed assets quickly surpassed $10 billion.

This shift marked a major transformation of Wu Jihan’s identity—from a technological innovator to a financial innovator. He began promoting licensed operations in crypto finance, engaging deeply with regulators in Singapore, the Middle East, and other regions, establishing compliance benchmarks for the industry.

BitLittle Deer, valued at $4 billion, listed on NASDAQ, building a globalized computing network. Wu Jihan’s strategic investments no longer limited to China but expanded to key nodes like Singapore’s freeport and Middle Eastern compliant trading hubs. Wall Street analysts commented: “Understanding Wu Jihan’s strategy reveals the future five-year landscape of crypto power shifts.”

Fusion of AI and DeFi: Hypotheses for the Next Decade

Today, Wu Jihan has proposed a new proposition: the fusion of “AI+DeFi.” Matrixport is developing cross-chain protocols, attempting to integrate AI computing power verification into decentralized finance systems. This layout is no longer just about cryptocurrencies but points toward the future of distributed financial infrastructure.

From evangelist translating white papers, to mining king controlling hash power, to financial innovator in asset management, Wu Jihan’s trajectory reflects the entire blockchain industry’s evolution from geek experiments to mainstream finance. Using a dual approach of “technological commercialization + regulatory collaboration,” he continues to push his boundaries.

His story is still ongoing. In the next ten years, how will Wu Jihan reshape industry rules at the intersection of AI and DeFi? Perhaps the answers are already hidden in his every carefully planned step.