Reports Spark Questions About Bitmain Leadership and Internal Disputes

Reports circulating on social media, particularly referencing a cryptic post about 'deep-sea fishing' (covert detention in China), have sparked significant speculation regarding Bitmain co-founder Micree “James” Zhan Ketuan. Observers link these claims to Zhan, suggesting he may be facing fines ranging from $1 billion to $10 billion, or even detention, while others allege he fled to Indonesia. These rumors coincide with confirmed disruptions in Xinjiang mining operations and escalating internal conflict between Zhan and co-founder Jihan Wu, leading to the collapse of Bitmain's dual CEO system. The internal upheaval occurs while Bitmain, which powers over 74% of the global Bitcoin hash rate, already faces external pressures, including a lawsuit and geopolitical scrutiny over its hardware embedded in both crypto and AI data centers.

(Source：BeInCrypto)