Chinese cryptocurrency mining giant Bitmain is revisiting plans for an initial public offering (IPO,) Bloomberg reported on June 21. The company had filed to list an IPO on the Hong Kong Stock Exchange, but the application expired on March 26. Now, Bitmain is reportedly planning to file listing documents with the United States Security and Exchange Commission, potentially paving the way for a share sale to take place later this year. While the company was hoping to raise $3 billion from its planned Hong Kong IPO, the Bloomberg report suggested that this fundraising target will be reduced to between $300 …
Bitcoin (BTC) mining behemoth Bitmain is now valued at $15 billion after closing a pre-Initial Public Offering (IPO) funding round with backing from high-profile investors, QQ News reported August 4. The fresh financing deal, which is said to have closed on Saturday, notably includes investments from Chinese tech conglomerate Tencent and Japan’s Softbank, another tech giant whose 15 percent stake in Uber makes it the drive-hailing app’s largest shareholder. Tencent, meanwhile, is the developer of China’s dominant social media platform WeChat, which has over 1 billion global users and outstripped Facebook’s market cap by $72 billion in March of this …
Chinese cryptocurrency mining giant Canaan Creative has filed to be a publicly-traded company in the United States. On Oct. 28, Canaan Creative filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) to raise $400 million, while planning to be listed on the Nasdaq under the ticker CAN. Canaan reportedly filed a $200 million IPO draft request with the U.S. regulators in July, but the formal F-1 form was not made public until today. If successful, Canaan, which is one of the three major Chinese crypto mining companies alongside Bitmain and Yibang International, could become …
Up until early 2018, major cryptocurrency markets the likes of South Korea and Japan demonstrated high premiums for Bitcoin. At the 2017 peak, when the Bitcoin price was trading at around $20,000 in the U.S. spot market, Bitcoin was being traded in South Korea’s cryptocurrency exchange market for around 26,000,000 Korean won, equivalent to about $22,000. This difference is now known as the Kimchi premium. Since then, starting with the introduction of various regulatory frameworks by South Korea to reduce regional premiums that included the prohibition of trading cryptocurrencies with foreigners in the local market, premiums in major markets have …
For over a year, the oil-rich Central Asian country of Kazakhstan has maintained its position as the third-biggest contributor to Bitcoin (BTC) mining after surpassing Russia back in February 2021. As of January 2022, Kazakhstan contributed to 13.22% of the total Bitcoin hash rate, positioned right after the historical leaders the United States (37.84%) and China (21.11%), as shown below. Along similar timelines, Cambridge Centre for Alternative Finance data estimated that Kazakhstan’s absolute hash rate contribution (monthly average) was 24.8 exahashes per second (Eh/s). Meanwhile, the US and China contributed 71 Eh/s and 39.6 Eh/s, respectively. The International Energy Agency …