Mining Firms to Make Chinese Unicorn List for First Time

"Unicorns" are private companies valued at over $1 000 000 000
19 July 2018   855

The Shanghai Hurun Research Institute has published a list of unicorn companies in Greater China (China, Hong Kong, Macao and Taiwan), which for the first time included representatives of the cryptocurrency industry. Thus, the list of major figure-makers in the list of major equipment Bitmain, Canaan Creative and Ebang. This is reported by Coindesk.

It is noteworthy that Bitmain took the 13th place with a capitalization of 70 billion yuan ($ 10.4 billion). Canaan was awarded with 32nd place with a capitalization of $ 3 billion, and Ebang closed the trio on 53rd place with a value of $ 1.5 billion.

Note that the media has already reported that all three companies intend to hold an IPO on the Hong Kong Stock Exchange (HKEX).

In May, the relevant application was filed by Canaan, and in July, followed by Ebang Communication. Jihan Wu previously stated that his company also considers the jurisdiction of Hong Kong, and potential investors may be Sequoia Capital and IDG Capital.

Jihan Wu to Leave Bitmain's Board, Media Reports

According to the lawyer of Bitmain, with the transition to a new position, Wu lost his right to vote in the decision-making process of the board of directors
14 November 2018   56

The head of Bitmain Jihan Wu, resigned from the company's board of directors and moved to the position of supervisor, 8btc reports

According to the lawyer of Bitmain, with the transition to a new position, Wu lost his right to vote in the decision-making process of the board of directors, in connection with which he could no longer influence the management of the company.

According to the published document, in addition to Wu, three more functionaries left the management team. The changes allegedly took effect on November 7th.

The reasons for this decision were not disclosed. However, according to some rumors, Jihan Wu entered into an unspoken confrontation with Bitmain co-founder Mikri Zhang, since he is focused on product development in the field of AI and chip production.

In September, Bitmain filed an official application to the Hong Kong Stock Exchange for an IPO. It is currently under review.

In November, Bitmain announced plans to install 90,000 Antminer S9 devices in the Xinjiang Uygur Autonomous Region before the upcoming hard fork of Bitcoin Cash on November 15.