Micree Zhan Ketuan, a Chinese electronics engineer and businessman, recently donated a smart computing center worth 50 million yuan ($7.76 million) to Shandong University.

Zhan Ketuan donates a smart computing center worth 50 million yuan to Shandong University. [Photo/sdu.edu.cn]

The donation ceremony was held on June 12 in Jinan, capital of Shandong, ahead of the university's 120th anniversary this year.

Zhan is the co-founder and ex-CEO of Bitmain, the world's largest computer chip company for cryptocurrency mining.

In 2001, Zhan graduated from Shandong University with a degree in electrical engineering before earning his master's degree in electrical engineering at the Chinese Academy of Sciences' Institute of Microelectronics in 2004.

Zhan will also invest 200 million yuan over five years to build the Intelligent Computing Research Institute of Shandong University to support the development of information science.

Fan Liming (left), president of Shandong University, and Zhan Ketuan unveil the nameplate for Intelligent Computing Research Institute of Shandong University. [Photo/sdu.edu.cn]

During her speech, Fan Liming, president of Shandong University, expressed her gratitude to Zhan for supporting the development of the university.

Zhan said that he has received much support and help from the university and society both at school and at work.

"I am grateful for the good opportunities and environment given by the country and I am very grateful for the help and support of my alma mater and my teachers," said Zhan.

"My company and Shandong University are now in a golden period of development. We hope to use this donation as a starting point to realize the integration of industry and education, and to contribute to industrial upgrading."