The development history of Bitcoin mining hardware industry is essentially a history of the rise and fall of major players. The earliest well-known major holder was Qian Zhiming, who once controlled 61,000 Bitcoins, but was later confiscated by UK law enforcement for illegal activities. Subsequently, Chen Zhi became another Bitcoin whale, holding up to 127,000 coins, and was later seized by relevant US authorities. Interestingly, between these two super major holders, other heavyweight holders are also active in the Bitcoin ecosystem. The rise and fall of these Bitcoin whales, to some extent, reflect the risks and regulatory trends in the cryptocurrency market.