Reports Spark Questions About Bitmain Leadership and Internal Disputes

Posts on X (Twitter) counsel that Bitmain co-founder Micree “James” Zhan Ketuan could also be going through a billion-dollar effective, alleged detention, and a whole fallout with enterprise associate Jihan Wu.

Conflicting stories go away the crypto neighborhood scrambling to confirm the main points of one of many sector’s most high-profile crises.

Bitmain Co-Founders at Center of Growing Speculation and Uncertainty

Bitmain, a pioneer in Bitcoin mining {hardware}, controls gear powering over 74% of the worldwide Bitcoin hash fee. It can also be accountable for chips utilized in AI information facilities working Nvidia H100s.

The firm now finds itself on the intersection of geopolitics, authorized scrutiny, and inside company strife.

On December 21, 2025, crypto veteran Chandler Guo sparked hypothesis with a cryptic social media publish referencing an trade colleague’s “deep-sea fishing” ordeal. The time period is used to explain covert detention in China, value a number of billion {dollars} over six months.

According to Guo, whereas the person emerged safely, he had realized a tough lesson that even the most important backers are usually not dependable. When they fall, their associates undergo as nicely.

“There’s an previous pal from the crypto circle by my facet who simply went via an expertise of being deep-sea fished. It’s mentioned to contain a number of billion US {dollars}, and he’s been coping with it for half a yr. Fortunately, the particular person has already safely come out of it…He relied on his backer’s connections to strike down his opponents, however he additionally bought bitten again by the backer’s personal enemies,” wrote Guo.

Observers shortly linked Guo’s account to Zhan. Rumors circulating in crypto circles point out fines starting from $1 billion to $10 billion, although none have been formally confirmed.

Some stories claim Zhan paid a $1 billion penalty, whereas others allege he fled to Indonesia two months in the past and stays lacking. A Chinese neighborhood lead, common on X, confirmed two key developments:

• Recent disruptions in Xinjiang’s mining operations and
• Escalating inside battle between Bitmain’s co-founders.

Dual CEO System Collapses Amid Founder Conflict

Bitmain’s twin CEO construction, which allowed each Zhan and Wu to guide the corporate, collapsed fully in 2025. Wu, a Peking University graduate, reportedly used political connections to problem Zhan, a Chinese Academy of Sciences alumnus who targeted on chip design and manufacturing.

Their rift mirrors broader trade dangers, demonstrating the hazards of intertwining business with influential backers.

This alleged inside upheaval comes as Bitmain faces mounting exterior pressures. While Zhan traditionally targeted on technical operations, Wu has led strategic partnerships and enterprise improvement.

The absence of both founder may go away operational gaps at a time when Bitmain stays central to Bitcoin mining worldwide. The agency is already facing a lawsuit from Old Const alleging breach of a internet hosting deal and makes an attempt to reclaim mining {hardware} with out trigger.

Geopolitical Risks and Infrastructure Vulnerabilities

Beyond company disputes, Bitmain faces scrutiny from US authorities over potential {hardware} safety threats. In June, Bitmain and two other firms relocated to the US to bypass new tariffs and optimize provide chains.

However, with the corporate’s mining infrastructure embedded in each crypto and AI information facilities, nationwide safety considerations amplify the stakes.

Any compromise may ripple via world Bitcoin networks, highlighting crypto’s ongoing vulnerability to geopolitical tensions.

Recent crackdowns on Xinjiang mining farms, mixed with Zhan’s alleged detention, have fueled hypothesis of coordinated regulatory strain.

The crypto sector stays vigilant, because the state of affairs may influence mining hardware markets, provide chains, and aggressive dynamics.

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