Bitmain to Plan to Raise $3B Thru IPO

This reported by Bloomberg refering to "people with knowledge of the matter"
15 August 2018   818

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.

Mining Ban in China Won't Affect Bitmain & Canaan

This is said by the companies themself; also, Bitmain and Canaan did not indicate whether they intend to move the business abroad
11 April 2019   205

The prospect of a ban on mining in China will not have an impact on the operating activities of mining giants Bitmain and Canaan in the short term. This was stated by representatives of the press services of companies, 8btc reports.

At the same time, Bitmain and Canaan did not indicate whether they intend to move the business abroad, if the mining ban is set at the legislative level.

Note that China currently holds a dominant position in mining Bitcoin and Ethereum.

According to local cryptoexperts, mining equipment manufacturers will exist as long as Bitcoin has value.

Earlier in April, the National Development and Reform Commission of China issued a bill that called mining an “undesirable industry” and proposed banning it.

So far, the initiative has no legal force. Public discussion of the bill will last until May 7.