Bitmain Plans to Raise $3 Bln in IPO

News
Wed, 08/15/2018 - 11:23
Yuri Molchan
Bitmain mining giant expects to collect up to $3 in the coming Hong Kong IPO
Cover image via U.Today

In September 2018, the Chinese startup, a leader in producing mining chips led by Jihan Wu plans to place its shares on the Hong Kong stock exchange. Recently, the company has carried out a private funding round during which Bitmain was valued at $15 bln.

Details of the listing are not publicized yet.

Bitmain provides about 80 percent of mining equipment to the market. If it succeeds with the IPO, it will be the company’s first move outside the crypto industry.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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