As one of the most significant clean energy sources, the migration characteristics and extraction processes of coalbed methane (CBM) have been extensively studied. The structural distribution and evolutionary characteristics of reservoir fractures, as the main conduit for gas migration, significantly affect the permeability and gas production. However, few models have been able to quantitatively and accurately explore reservoir micro–macro interactions under coupled thermal-fluid–solid effects. This work develops a new highly coupled model based on the widely adopted power-law function to quantify reservoir thermal conduction effect, gas pressure evolution, reservoir deformation, in situ stress, the adsorption–desorption effect, and reservoir microstructure evolution. Three parameters are adopted to quantitatively characterize the reservoir structure: (1) fracture power index αf (to characterize the fracture density), (2) fracture length ratio rf (to characterize the fracture size), and (3) the maximum fracture length l. The results demonstrate that the fractal network is a special kind of network in the power-law length distribution. The proposed power-law seepage model is able to accurately characterize the evolution of reservoir microstructure and the impact of microevolution on extraction under multi-field coupling effects, compared to the traditional power-law model. The proposed model can provide a good theoretical and practical support for the study of CBM migration and extraction.