Bitmain is a Chinese-based mining giant which produces equipment for all types of mining activity. There have recently been rumours that Jihan Wu, the CEO of Bitmain, leaves the company to create its own a BCH-focused crypto mining firm while the company is launching a new updated product. So what is true here? A new efficient crypto mining chip According to the official press release, Bitmain launches the BM1397. This chip is supposed to be much more powerful than its predecessor, the efficiency difference accounts for 38%. This is a breakthrough in mining industry, the product uses just 30 joules per terrahash. It means that this chip replace the existing hashpower as 33 terrahash can be powered by just 1 kilowatt of power. Source: blog.bitmain.comIn terms of terrahash capability, the model will be more powerful than existing ones, as a result, a user will have to pay more for electricity. A new generation of mining chips is already real. Jihan Wu and rumours of his quitting The person who started the rumours is Dovey Wan, founding partner of Primitive Ventures. She wrote in his Twitter that Jihan Wu will probably leave his position to build a new company which is a spin of Bitmain focusing on BCH. Jihan Wu is leaving Bitmain, starting a new company 🤯🤯🤯 multiple non-official sources said so … according to various sources, the new company is more like a spin out of Bitmain (so far not sure of the equity ownership structure), with primary focus around BCH and Defi — Dovey Wan 🦖 (@DoveyWan) February 25, 2019 The company has not released any statements yet. Though we understand that Bitmain has been suffering a lot since the beginning of bearish market, not to mention U.S.-China trading war which has a great influence on the company. The company has also closed its two offices in Israel and the Netherlands. We remind you Is Bitmain Really Dying, or How Much Money Was Lost in 2018? Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/