Recently, I’ve been studying the development history of the crypto industry and discovered a particularly interesting phenomenon: many industry giants started out as geeks or scholars. Wu Jihan’s story is especially typical—going from a talented student at Peking University to a mining tycoon in the crypto world, this transformation alone is quite legendary.

In 2011, Wu Jihan encountered the Bitcoin white paper in his office on Beijing’s Financial Street. At that moment, he probably didn’t expect to change anything, but he really did. At 25, he invested 100k yuan into Bitcoin with no hesitation, when a single coin was only $10. Everyone around him thought he was crazy, but he immersed himself in translating the white paper, bringing Bitcoin’s philosophy into the Chinese-speaking world for the first time in a complete form. He also co-founded BlockBeats, which later became a key information hub for the Chinese crypto community. Back then, Wu Jihan was passionately debating the value of decentralization on forums, clearly a true evangelist.

What truly made Wu Jihan famous was his dominance in the mining hardware field. In 2013, Bitcoin’s price skyrocketed, and mining became a nationwide movement, causing explosive growth in demand for mining machines. Wu Jihan teamed up with Tsinghua tech genius Jihan Wu to develop the Antminer S1 in a humble residential building. This decision changed the entire industry—within half a year, the S1 captured 75% of the global market share. Later, the Antminer S9 became a benchmark for energy efficiency, directly sparking a revolution in ASIC chip technology. Miners say that without Wu Jihan’s mining machines, they wouldn’t even be able to cover electricity costs. Though this might sound exaggerated, it reflects the absolute dominance of Antminer. Bitmain thus emerged out of nowhere, with revenue comparable to tech giants, and Wu Jihan was revered as the “Mining Overlord” in the crypto circle.

The 2017 Bitcoin fork event further showcased Wu Jihan’s control over industry rules. He led the launch of Bitcoin Cash (BCH), directly triggering the “hash power war” in the crypto world, shaking the entire ecosystem. He responded calmly, saying that technological progress requires forging new paths. Through forking and mining pool alliances, he deeply engaged in the game of underlying protocols in cryptocurrencies, holding significant influence over industry rules. Although Bitmain faced setbacks in its 2018 IPO and Wu Jihan and Jihan Wu parted ways due to strategic differences, he didn’t stop. He took the mining pool business with him, incubated Bitdeer, and even went deep into Inner Mongolia’s mines, eating lamb and drinking strong liquor with workers. This talented individual with a background in psychology from Peking University jokes that his major was of no use, and he ended up learning how to repair mining machines instead. This resilience and down-to-earth style have crafted his new legend.

By 2019, Wu Jihan’s vision expanded into the financial sector. He founded Matrixport, pioneering the “safety cushion” model for crypto asset management, managing over $10 billion in assets. This was a crucial step, as he began promoting licensed operations in crypto finance, paving the way for regulatory frameworks in places like Singapore, setting a compliance benchmark. Bitdeer later went public with a valuation of $4 billion, building a global computing power network. Wu Jihan’s strategic layout extended into Singapore’s freeport, Middle Eastern compliant trading hubs, and more, leading the entire industry toward standardization. This shift is particularly interesting—he gradually moved crypto assets from the fringe to the mainstream.

Now, Wu Jihan is researching the integration of “AI + DeFi,” with Matrixport developing cross-chain protocols, attempting to incorporate AI computing power verification into decentralized finance, aiming at the future of distributed financial infrastructure. His plans are no longer limited to cryptocurrencies but aim to reshape the entire global financial landscape. Some say that understanding Wu Jihan’s strategy can reveal the crypto power map for the next five years, and this assessment is not an exaggeration.

From white paper translation to computing power dominance, from financial breakthroughs to AI integration, Wu Jihan’s decade-long journey reflects the entire blockchain industry’s evolution from a geek experiment to a new global financial force. Using a dual approach of “technological commercialization + regulatory synergy,” he has defined the industry rules for mining hardware, computing power, and asset management. His story is a microcosm of faith and perseverance, also a vivid footnote to China’s blockchain rise. What will his next decade look like? I believe the answer is already quietly emerging in each of his strategic moves.