Jihan Wu, the founder of bitcoin mining rig maker Bitmain, is launching a $250 million fund to buy troubled assets from mining companies, according to Bloomberg on Tuesday. Wu started Bitmain in 2013, but left in early 2021 to oversee the company’s spin-off, Bitdeer Technologies. According to a Bitdeer official, the company would first invest $50 million and hopes to attract additional $200 million from outside investors.
