Posts on X (Twitter) recommend that Bitmain co-founder Micree “James” Zhan Ketuan could also be going through a billion-dollar superb, alleged detention, and a whole fallout with enterprise accomplice Jihan Wu.
Conflicting stories depart the crypto group scrambling to confirm the small print of one of many sector’s most high-profile crises.
Bitmain Co-Founders at Middle of Rising Hypothesis and Uncertainty
Bitmain, a pioneer in Bitcoin mining {hardware}, controls gear powering over 74% of the worldwide Bitcoin hash price. It’s also liable for chips utilized in AI information facilities operating Nvidia H100s.
The corporate 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 put up referencing an trade colleague’s “deep-sea fishing” ordeal. The time period is used to explain covert detention in China, price a number of billion {dollars} over six months.
In response to Guo, whereas the person emerged safely, he had discovered a tough lesson that even the most important backers will not be dependable. After they fall, their associates undergo as nicely.
“There’s an outdated good friend from the crypto circle by my facet who simply went via an expertise of being deep-sea fished. It’s stated to contain a number of billion US {dollars}, and he’s been coping with it for half a yr. Fortuitously, 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 acquired bitten again by the backer’s personal enemies,” wrote Guo.
Observers shortly related 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 declare Zhan paid a $1 billion penalty, whereas others allege he fled to Indonesia two months in the past and stays lacking. A Chinese language group lead, widespread on X, confirmed two key developments:
- Latest disruptions in Xinjiang’s mining operations and
- Escalating inside battle between Bitmain’s co-founders.
Twin CEO System Collapses Amid Founder Battle
Bitmain’s twin CEO construction, which allowed each Zhan and Wu to steer the corporate, collapsed fully in 2025. Wu, a Peking College graduate, reportedly used political connections to problem Zhan, a Chinese language Academy of Sciences alumnus who centered on chip design and manufacturing.
Their rift mirrors broader trade dangers, demonstrating the risks of intertwining enterprise with influential backers.
This alleged inside upheaval comes as Bitmain faces mounting exterior pressures. Whereas Zhan traditionally centered on technical operations, Wu has led strategic partnerships and enterprise improvement.
The absence of both founder might depart operational gaps at a time when Bitmain stays central to Bitcoin mining worldwide. The agency is already going through a lawsuit from Outdated Const alleging breach of a internet hosting deal and makes an attempt to reclaim mining {hardware} with out trigger.
Geopolitical Dangers and Infrastructure Vulnerabilities
Past company disputes, Bitmain faces scrutiny from US authorities over potential {hardware} safety threats. In June, Bitmain and two different corporations relocated to the US to bypass new tariffs and optimize provide chains.
Nevertheless, with the corporate’s mining infrastructure embedded in each crypto and AI information facilities, nationwide safety considerations amplify the stakes.
Any compromise might ripple via world Bitcoin networks, highlighting crypto’s ongoing vulnerability to geopolitical tensions.
Latest crackdowns on Xinjiang mining farms, mixed with Zhan’s alleged detention, have fueled hypothesis of coordinated regulatory stress.
The crypto sector stays vigilant, because the scenario might impression mining {hardware} markets, provide chains, and aggressive dynamics.
The put up Experiences Spark Questions About Bitmain Management and Inner Disputes appeared first on BeInCrypto.
