Korean Miners Caught Using Factory Electricity

From 100 to 350 mining devices were installed by each company
02 April 2018   1468

South Korean police arrested 14 people from 13 companies for illegally using cheap electricity to mine cryptocurrencies at industrial complexes.

Mining activities were taking place in four different complexes in the city of Gwangju. Illegal miners had 10 percent lower electricity costs compared to companies in general areas, as well as lower rents.

From 100 to 350 mining devices were installed by each company; mining process started since May 2017.

Six companies were located in 

  • Hanam
  • Nano
  • Pyeongdong

Industrial Complexes.

This isn't the first time miners are suspected in illegal using of subsidized electricity in public or office areas in the country. August 2017, an electronics retail marketplace in South Korea reportedly took the unusual step of outlawing vendors from mining bitcoin in their stores.

Bitmain IPO Application Deadline to Expire

According to the latest statement, team doesn't lose spirit and appointed new CEO
26 March 2019   84

The application of the Chinese mining company Bitmain to conduct an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEx) expired yesterday, March 25. This is reported by the Cointelegraph.

The company filed an application six months ago, for which it provided financial statements to the HKEx committee. However, during this period, the hearing on the application did not take place.

To re-register an application to HKEx, the company will need to disclose financial statements for the third quarter of 2018.

Today, 26.03.19, Bitmain published a blog post, in which it reported in new CEO Haichao Wang appointment and share some plans.

Bitmain’s listing application to HKex in September 2018 has reached its 6-month expiration date. We do recognize that despite the huge potential of the cryptocurrency and blockchain industry, it remains a relatively young industry which is proving its value. We hope regulatory authorities, media, and the general public can be more inclusive to this young industry. We will restart the listing application work at an appropriate time in the future.

Bitmain Team

In November 2018, an application for an IPO from a mining company Canaan Creative was canceled.