TechFlow news — A Weibo user named "BCH Enthusiast BruceLee" stated on Weibo that, according to veteran members from the BCH community, most of Bitmain's 1 million BCH holdings were sold back in 2018. The reason was that Jihan Wu invested heavily in AI projects at that time, spending enormous amounts of money with almost negligible returns. When the bear market hit in 2018, Bitmain's profits sharply declined and cash flow became critically strained, forcing the company to sell BCH to survive.
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