TechFlow news, according to Wu Shuo Blockchain Report, on the evening of December 16, Zhan Kuan and Wu Jihan officially reached an agreement. Under the deal, Zhan Kuan will pledge his shares to borrow $600 million from Bitmain to acquire Wu Jihan's stake. This marks Zhan Kuan's formal return, with Sealand Capital's Shen Nanpeng reportedly serving as a mediator.
Following the agreement, BTC.com, BitDeer, and overseas mining operations will be spun off at a valuation of $90 million and belong to Wu Jihan’s team, while all other Bitmain businesses (mining machines, AI, Antpool, domestic mining farms, etc.) will remain under Zhan Kuan’s control. A shareholder meeting is scheduled for December 28, although minor changes to the agreement remain possible.
Under the terms of the agreement, Zhan Kuan has committed to achieving a qualified U.S. listing by December 31, 2022, with a minimum valuation of $550 million and fundraising of no less than $50 million. Failure to meet these targets could require him to repurchase investors' shares with interest.
