While recently reviewing the history of cryptocurrency development, I noticed a pretty interesting phenomenon. When it comes to mining and early Bitcoin promotion, many people can’t avoid mentioning Wu Jihan. His experience really is worth discussing.

In 2011, Wu Jihan was still just an investment banking analyst, and at age 25 he was doing a typical 9-to-5 job. But that year, when he came across Bitcoin, it directly changed the course of his life. Unlike most people who treat Bitcoin as a speculative asset, he saw the underlying logic— the possibility of a decentralized financial system. He was also quite bold: he put all his savings into it, and even translated the Bitcoin white paper to promote it domestically, making him one of the pioneers in China’s Bitcoin community.

What truly brought Wu Jihan fame was founding Bitmain in 2013. With a deep understanding of mining hardware, the Antminer series they released directly dominated the global mining machine market. During that period, Bitmain’s annual revenue reached $2.5 billion—an absolute top-tier figure in the crypto industry at the time.

However, Wu Jihan’s story also has parts that are controversial. During the Bitcoin scaling debate in 2017, he argued for resolving transaction bottlenecks by increasing block capacity, and in the end he helped drive the hard fork of Bitcoin Cash. This decision sparked huge division in the community—some said he had foresight, while others criticized him for undermining Bitcoin’s unity. No matter how you evaluate it, this fork really did prompt the industry to think more deeply about its technical roadmap.

Later, Wu Jihan also took part in founding projects such as BitDeer and continued exploring in the mining field. From a 2011 analyst to becoming an influential figure in the industry, his more than ten years of experience have indeed been a game of risks and opportunities.

What’s interesting is that, at its core, Wu Jihan’s story reflects the development path of the entire cryptocurrency industry— from fringe innovation to gradually becoming part of the global financial system. The opportunities his generation seized now carry the imprint of that era. This entrepreneurial spirit of going from 0 to 1 still has meaningful lessons to offer in today’s crypto space.