Chinese crypto and artificial intelligence mogul Zhan Ketuan is facing a crisis.
US custom officials in recent months have impounded some shipments of Bitcoin mining rigs made by his company Bitmain. The pressure on the 45-year-old billionaire ramped up further this month, after Washington sanctioned his other companies that design and source artificial intelligence processors.
It is not the first time that Zhan’s ambitions to build China’s answer to Nvidia have jeopardised his business empire. Bitmain was nearly undone five years ago by his heavy spending to develop AI chips, sparking a civil war with his co-founder for control of the company.
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