Bitmain to Plan to Raise $3B Thru IPO

This reported by Bloomberg refering to "people with knowledge of the matter"
15 August 2018   315

The largest manufacturer of mining equipment Bitmain will submit a listing application to the Hong Kong Stock Exchange in September. The company plans to raise $ 3 billion during the IPO, according to Bloomberg, citing informed sources.

It is noteworthy that Cihan Wu intends to expand the range of the company's activities and bring it to the market of artificial intelligence. It should be noted that many representatives of the crypto-currency community refer to these plans with a share of skepticism.

CoinDesk argue that Bitmain intends to raise $ 18 billion, surpassing the IPO of the Facebook. In this case, the capitalization of the mining giant can range from $ 40 billion to $ 50 billion.

It also became known that the company received serious position on Bitcoin Cash, probably due to the sale of bitcoins. A number of industry experts believe that in the second quarter of 2018 Bitmain suffered huge losses.

It is worth noting that competitors of the giant Canaan Creative and Ebang can also enter the IPO in Hong Kong.

WeChat to Ban Bitmain's Account

Bitmain is not the first banneed crypto related account; over 30 accounts have been blocked so far
10 September 2018   306

The Chinese instant messenger WeChat has blocked accounts related to the sale of Mining equipment from Bitmain and analysis of movements of cryptology, CoinDesk reports.

In particular, on September 10, the official channel of the manufacturer of Bitmain Mining Equipment "antminersale" got to the "black list" of the service.

Following users' complaints, the platform [WeChat] has reviewed and discovered that this account – without having acquired authorized credentials or licenses – has been publishing and distributing information of relevant businesses it is involved in

WeChat Message

However, the second similar to Bitmain account "antminer_official" is still available in WeChat. Representatives of Bitmain declined to comment on the situation.

In addition, the operator of the Goldcoins channel, who previously published analysis and forecasts of the crypto-currency market, reported problems with access to the account. Delphy project's account is under a ban too. This startup which develops an analogue of the market predictions Augur on the Ethereum's blockchain.

In both cases, WeChat named the same reasons for blocking as for the Bitmain account.

Wecchat, originally developed by the Chinese technology giant Tencent, began blocking media accounts related to the cryptocurrencies at the end of August. According to CoinDesk, over 30 accounts have been blocked so far. WeChat has not yet explained the reasons for the ban.