Mining Giant Bitmain Files As Secret For US Based IPO

Mining Giant Bitmain Files As Secret For US Based IPO

According to reports, bitcoin mining producer Bitmain Technologies was secretly filed for the first IPO with the US Securities and Exchange Commission. The news claims that Micree Zhan, co-founder and managing director, was removed and a plant in Texas was declared to have a capacity of 300 MW hashpower.

Bitmain Secretly Files for the First Public Offering in the US
The US Securities and Exchange Commission (SEC) currently has two mine producers to confirm the public offering in the country. According to Tencent News, the IPO is supported by the financial finance giant Deutsche Bank and was filed by Canaan Creative earlier this week when Canaan Creative applied for the IPO. The manufacturers of Avalon mining towers and chips have applied to Nasdaq for a $ 400 million initial public offering, but the Bitmain valuation is currently unknown. Since Tencent ( translated editorial details about Bitmain hiring a Chinese-based executive Zheng Hua, who once worked with Nasdaq, the company's filing process is likely to be as similar as Canaan's filing status.

The news shows that, following Bitmain's recent coup at Rockdale in Texas, the company is building a bitcoin mine with a 300 megawatt (MW) hashpower. According to Bitmain, the plant will be online with another 25 MW plant and another 25 MW company. Last year, the company also issued a public offering leaflet in Hong Kong to trade on the Hong Kong Stock Exchange (HKSE). However, in March 2019, the Chinese mining giant allowed the application to skip and did not submit any other public offering brochures in the country. Canaan also applied to Hong Kong for a public offering and allowed the practice to shift. Due to the SEC's approval of such files in June 2017, confidential or ‘confidential’ IPO applications are not uncommon in the United States.

In addition, Bitmain released and shipped a wide range of new generation bitcoin core (BTC) and bitcoin cash (BCH) miners this year. Despite last year's FUD, the company was able to produce at least 10 new machines, including a special version S9 Antminer. According to, while the SHA256 miners specifically filter, the company's S17 series towers are the first two bitcoin miners today, just above Innosilicon's T3. The S17 series Antminers produces 50+ terahash (TH / s) per second, and the company's machines that come in December will produce 70+ TH / s according to specifications. The machines have been delivered despite the rumors of a shortage of 7nm in the semiconductor foundries since the last two Samsung and iPhone launches.
The IPO filing news also developed after recent headlines that Bitmain's founder, Micree Ketuan Zhan, was removed. Leaked reports revealed that Bitmain's founding member, Jihan Wu, disagreed with Zhan regarding the production of artificial intelligence (AI) chips claimed to be heathen. Wu was reported to assume the leadership of the company, and Zhan's dismissal was “immediately effective ve and reportedly included“ all roles teki in the company.
“Jihan Wu, the founding president, president, legal representative and general manager of Bitmain, has decided to reject all Ketuan Zhan roles that will take effect immediately,” he said. “Any Bitmain employee will no longer participate in any direction from Zhan or any meeting organized by Zhan. Bitmain may, as the case may be, consider terminating the employment contracts of those who violate this note. Bit The price of bitcoin cash (BCH) has risen in double digits since October 29, following the shaking of bitmain management.

What do you think of Bitmain about the secret filing of a US-based public offering (public offering) with the Securities and Exchange Commission? Let us know what you think about this in the comments section below.

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