A Gang Arrested Over Bitcoin Miner Theft

Nine thieves were arrested in connection with the theft of cryptocurrency mining equipment in Malaysia
28 February 2018   852

According to local news, the theft occurred in the town of Seri Kembangan. the gang was arrested at around 10 pm on February 23. Assistant Commissioner Megat Mohammad Aminudin Megat Alias stated that they tried to sell mining equipment via social media, particularly on Facebook. Nine thieves stole at least 58 machines.

The police managed to recover 58 machines worth more than RM500,000 (US$127,000).

More than that, members of this gang are suspected of involvement in other similar cases. These include the theft of an additional Bitcoin mining rig in Seri Kembangan on February 16.

We received four other similar reports in three areas in Serdang. We managed to solve two cases with the arrests of the suspects. As for the remaining cases, we have credible leads and the investigations are still ongoing.

The Assistant Commissioner

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   405

The largest mining company Bitmain has submitted to the Hong Kong Stock Exchange (HKEX) listing application for an initial public offering (IPO), according to CoinDesk.

The application is a draft option, and some of its details, in particular the number of shares offered for sale and the immediate date of the IPO, are still in the process of editing.

Nevertheless, the document indicates that last year Bitmain's revenue was $ 2,517,719,000. This figure is higher than in 2016 ($ 277,612,000). As of June 30, 2018, the company's revenue was $ 2,845,467,000.

The application said that in 2017 the gross profit of the company was $ 1 212.7 million, which is also higher than in 2016 ($ 151,351,000).

Earlier, the head of Bitmain, Jihan Wu, expressed his indignation over the actions of the company's chief financial officer, who disclosed the figures for the first quarter 60 days after his end, and not after 90, as he had expected.

The media suggested that in the run-up to the IPO the publication of such information could have a negative effect on the company's investment attractiveness.

In addition, the document confirmed the media's information that Bitmain owns a 3% stake in Opera's Internet browser thanks to an investment of $ 50 million.

The application also indicates that the underwriters of the IPO are China International Capital Corporation Hong Kong Securities Limited, Commerce and Finance Law Offices, Maples and Calder LLP, KPMG and Frost & Sulliva