Rings of Power theory has fans divided over what creature is hiding in Khazad-Dum

What creature is lurking about in the Khazad-dum? Some Rings of Power fans think they have it figured out – but others don't agree.

In The Lord of the Rings: The Rings of Power season 2, episode 5 , Disa sees something terrifying in the caverns. Initially, it seemed pretty clear (at least to us) that the creature was, in fact, the Balrog . In the novel The Lord of the Rings, the Company of the Ring encounters a balrog in the Mines of Moria. The demonic entities, which serve Morgoth are twice the size of a normal human and wield whips made of fire.

A new fan theory, however, poses that the creature Disa saw was the Watcher in the Water. The Watcher is a tentacled creature, similar to a kraken, that lurks beneath the western Walls of Moria. Tolkien never exactly explained what or where the Watcher comes from, though it does fall under the category of 'nameless things,'  which are defined as "strange things living in the pools and the hearts of the mountains."

"Durin IV calls the monster "a nameless evil, ancient and powerful." In the Legendarium, 'Nameless Thing' is actually a category of ancient, deep-dwelling, generally aquatic creatures," the fan wrote . "(In ep. 4, Arondir calls the mud-worm a 'nameless thing in the deep places of the earth,' although that particular form of creature was never mentioned in canon). Balrogs are definitely NOT of the category of nameless things." They also cite the sound design, the creature's roar, and the way the water ripples in the cavern ripples outward (a callback to Peter Jackson's Watcher as depicted in The Lord of the Rings: The Fellowship of the Ring)."

"Balrog makes more sense with regards to the reference to mining deeper. Watcher fits with the visual cues of the door and the water," another fan said.

"There was also a loud drum beat that preceded it. Just because there was water there, I don't think it's meant to be the Watcher. Balrog is more likely," another replied .

Whatever the creature is, we'll find our sooner rather than later – and both options are terrifying.

The Rings of Power season 2 is streaming now on Max. Check out our guide to The Rings of Power season 2 release schedule and our The Rings of Power season 2 review .