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 …

Ex-Bitmain CEO Jihan Wu could launch his newest venture next month, according to a report by The Block on June 5. One unnamed source told the website that the crypto services startup, called Matrix, “will be the biggest over-the-counter (OTC) desk and asset manager overnight.” Matrix’s OTC offering is likely to be boosted by its close ties to bitcoin (BTC) mining company, Bitmain. The new business will reportedly offer custody and lending services to the Beijing-based giant, receiving a liquid pool in return. Another of the four unnamed sources told The Block that such high levels of liquidity could result …

Chinese cryptocurrency mining giant Bitmain's hashrate has noticeably dropped in the past 30 days, according to the company’s hashrate disclosure update as of May 7. Per the data analyzing the hashrate of all Bitmain-owned hardware, updated once every 30 days, the SHA256 hashing algorithm — which is used in the bitcoin (BTC) mining network — has dropped from 1,692.35 quadrillion hashes per second (PH/s) in March to 237.29 PH/s as of the beginning of May. This marks a noticeable downturn in the company’s bitcoin mining power. When comparing with Bitmain’s numbers of last year, In July 2018, Bitmain’s SHA256 hashrate …

On April 9, Reuters reported that a Chinese government agency is considering the elimination of crypto mining in the country. Given that China has been hosting the majority of mining pools on its soil, the global crypto industry might be poised to take a massive hit. However, the plan is not written in stone at this point, and part of community has dismissed it as casual FUD. Brief introduction to China’s relationship with crypto Chinese authorities have been spearheading the “blockchain before Bitcoin” approach since September 2017, when the infamous crackdown on local initial coin offerings (ICOs) and crypto exchanges …

Bitmain, the largest manufacturer of mining equipment, recently revealed the Antminer Z11 device for mining Zcash and other cryptocurrencies based on the Equihash algorithm, as reported by Cointelegraph on March 19. The company claims that the new chip is three times more powerful than its predecessor, the Antminer Z9, which was released nine months ago. Introducing the #AntminerZ11 that packs 3X more hashing power than its predecessor! The Z11 mines #Zcash under the Equihash algorithm. Performing with a hash rate of 135 KSol/s and power consumption of 1418 W. Click here (https://t.co/woThhXNxjd) to learn more. pic.twitter.com/HzCLKR7dVc — Antminer_main (@Antminer_main) March …

Chinese crypto mining giant and ASIC hardware producer Bitmain has announced a launch date of April 9th for its new energy-efficient Antminer S17 series miners. The news was revealed in an official Bitmain blog post on March 29. As previously reported, the new miners will be fitted with Bitmain’s 7nm (nanometer) ASIC mining chip — dubbed “BM1397” — designed for mining cryptocurrencies that use the SHA256 algorithm for their proof-of-work (PoW) — most notably Bitcoin (BTC) and Bitcoin Cash (BCH). Three different Antminer S17 miners have now been specified as slated for release on April 9: the models Antminer S17 …

Disclaimer: This article has been updated to reflect that Bitmain Z11 ASIC miners are for Equihash algorithm coins, not Proof-of-Stake. Embattled cryptocurrency mining giant Bitmain has allegedly hinted the release of its new mining hardware could hinge on the 2020 Bitcoin (BTC) block reward halving. The news was reported by English-language Asia news outlet South China Morning Post (SCMP) on March 27. Bitmain, which has seen a testing six months as market volatility triggered redundancies and a failed public flotation, reportedly said next year’s event could reverse its fortunes. SCMP cited a “a company source with knowledge of the plan.” …

A critic of cryptocurrency mining giant Bitmain, BTCKING555, said that a group investors are preparing a class action lawsuit against the company in a tweet on March 26. BTCKING555 said in the post that a number of Bitmain’s investors are going to file a class action lawsuit against the company in Hong Kong, seeking to recover their investments after the expiration of Bitmain’s initial public offering (IPO) bid. The post reads: “...already in august I warned many investors and prevented them from investing. Those that did not listen, good luck recovering your moneys. I hear there is class action in …

Chinese crypto mining titan Bitmain’s filing to list an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEx) has officially expired, according to an updated list of now-lapsed applications on the HKEx website on March 26. In a blog post published the same day, the company acknowledged that its IPO application was now inactive, and simultaneously revealed the appointment of a new CEO, Mr. Haichao Wang. As reported yesterday, Bitmain’s IPO filing — published in English and Chinese on Sept. 26, 2018 — was set to imminently reach the end of a six-month validity window, pursuant to HKEx …

Chinese crypto mining giant Bitmain’s filing to list its initial public offering (IPO) on the Hong Kong Stock Exchange (HKEx) will seemingly reach the end of its six-month expiration window today, as a crypto community member has noted in a tweet posted on March 25. As the South China Morning Post has previously outlined, HKEx listing rules provide a six-month window for a given application to proceed to a closed-door hearing before its Listing Committee. The Committee is tasked with giving the final approval or disapproval of the offering; should an applicant fail to hear a response within this time …

Cryptocurrency mining giant Bitmain is reportedly planning to set up 200,000 units of mining equipment in China to benefit from low-cost hydroelectric power in the country, crypto media outlet CoinDesk reported on March 21. A source from China familiar with the matter reportedly told CoinDesk that Bitmain will install 200,000 units of their own mining machines to take advantage of cheap hydroelectric power costs during the summer following the excessive rains in southwestern China. The mining equipment is estimated at around $80 million to $100 million. The crypto mining giant has reportedly entered into negotiations and started making deals with …

Cryptocurrency mining giant Bitmain has released a new version of its Antminer Z series machines for Equihash algorithm coins, the company confirmed in a blog post on March 19. The Antminer Z11, which comes around ten months after the release of its predecessor the Z9, claims to treble the hashing power available for its target cryptocurrencies. Equihash is the algorithm used in altcoins such as Zcash (ZEC) and ZenCash (ZEN). The move sees Bitmain continue to forge ahead with new products despite challenging market conditions within the mining industry, the company previously closing down some aspects of its operations. “The …