Chinese crypto mining giant Bitmain has filed a draft application for listing the company’s shares on the Hong Kong Stock Exchange (HKEX), according to an official application document published Wednesday, September 26. Bitmain has provided a draft application proof that is required for public listing on the HKEX, aiming “solely” to disclose information to the public in Hong Kong, and “not for any other purposes.” By providing a detailed business overview, Bitmain has stressed that the application proof is represented in a draft form, as it is a subject to future elaborations due to its incomplete status. In the application’s …

Circle Internet Financial Ltd. is launching a USD-backed digital token dubbed the “USD Coin,” Circle’s blog reports Wednesday, September 26. A consortium called Centre — which includes Bitmain Technologies Ltd. among its members — will act as a platform for deposits and fiat conversions for the stablecoin. Bloomberg notes that although Centre is a “wholly owned subsidiary of Circle,” there are plans in plan to turn it into an independent organization. The USD Coin (USDC) will reportedly be available on Circle’s Poloniex exchange, as well as Huobi, OKCoin, KuCoin, and digital wallet and exchange Coinbase. As per Circle’s release, over …

Bitcoin (BTC) mining behemoth Bitmain has unveiled its next-generation ASIC chip soon to be used in the firm’s new “Antminer” crypto mining machines, Reuters reports September 21. An Application-Specific Integrated Circuit (ASIC) chip is a piece of tailored mining hardware geared to mine cryptocurrency based on a specific hashing algorithm. Bitmain CEO and co-founder Jihan Wu reportedly announced the new crypto-mining-specific ASIC chip BM1391 during his keynote lecture at the World Digital Mining Summit in Georgia. According to Wu, Bitmain has now started to mass produce the chip and plans to integrate it into its next-generation Antminer machines. The new …

It's no secret that Bitcoin (BTC) mining is an expensive business, and in more ways than one. Not only has it become less profitable since July 2016's halving of mining rewards to 12.5 BTC, but competition among miners and an increasing hashrate have resulted in ever-higher energy consumption, with all the damage to the environment that implies. Yet, as energy-intensive as Bitcoin mining is, a question still remains: Is there a seasonal variation in the cryptocurrency's energy consumption? Even if consumption is rising on the whole, does something different happen during the summer months? Well, data hasn't been collected on …

WeChat, the 1 billion-user Chinese social media platform developed by Tencent, has blocked the official sales channel of Bitcoin (BTC) mining giant Bitmain, according to an announcement posted to its channel yesterday, September 10. As of press time, Bitmain’s other Wechat accounts, including after-sales services and its official account, remain active. The official sales channel, which operates under the WeChat ID “antminersale,” no longer shows any content but instead displays a rules violation notice, stating: "Following users' complaints, [WeChat] has reviewed and discovered that this account — without having acquired authorized credentials or licenses — has been publishing and distributing …

The CEO of China-based crypto mining pool F2Pool posted a company-branded infographic September 6 that indicates at what minimum price points the mining of various cryptocurrencies becomes unprofitable. Shixing Mao, co-founder and CEO and of the world’s sixth largest mining pool F2Pool, published a list of price levels for major cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Zcash (ZEC) below which mining said currency with various different miners allegedly becomes unprofitable. According to Mao’s graphic, if Bitcoin’s price hits lower than 36,792 yuan (about $5,376) point, this would mean that mining the cryptocurrency on an Antminer T9 …

Singapore-based investment company Temasek has officially denied involvement in the cryptocurrency mining giant Bitmain’s Initial Public Offering (IPO), according to an official statement August 30. Last month, media reported that Temasek was one of the key investors in the Bitmain pre-IPO funding round. The investment firm’s commitments for the pre-IPO allegedly totalled $560 million. In response to the reports, Temasek stated: “We've seen commentary about an IPO involving a cryptocurrency company, Bitmain. Temasek is not an investor in Bitmain, and has never had discussions with, or an investment in Bitmain. News reports about our involvement in their IPO are false.” …

A research unit for crypto exchange BitMEX analyzed recent data on Bitmain which was leaked to Twitter earlier this week. According to the report published on BitMEX blog Thursday, August 30, the Chinese mining giant has “legendary” potential, but future success will depend on skilled management. Discussing the source of leaked Bitmain financial data — apparently a Twitter account @brian_trollz — BitMEX states that it has “reason to believe the authenticity of these documents.” According to the research, one of the most interesting discoveries in leaked pre-Initial Public Offering (IPO) documents is that Bitmain’s mining farm business has significantly declined. …

Vague statements in Chinese mining giant Bitmain Technologies’ investor deck ambiguously and potentially misleadingly list investors ahead of its rumored Initial Public Offering (IPO). In a Bitmain pre-IPO investor deck acquired by Cointelegraph, DST Global is listed as an investor, with claims that the investment is “recently completed.” Henry Yu, a lawyer and legal expert at Hong Kong law firm L&Y Law Office, spoke with Cointelegraph, explaining that the document’s wording in the original Chinese is left vague. While it is possible to dispute the meaning, to the layperson or an uninitiated potential investor, the language would suggest Bitmain has …

Investment firm DST Global has confirmed that it “has never invested” into the cryptocurrency mining giant Bitmain’s pre-IPO in an email to Cointelegraph August 21. Cointelegraph received an anonymous tip today, claiming that DST Global has not participated in Bitmain’s $400 million funding round earlier this year, despite reports to the contrary. After being asked to confirm the rumour, John Lindfors, a managing partner at DST Global, has said this in an email to Cointelegraph today: “I can confirm that DST has never invested in Bitmain.” The news follows days after another major player, Uber’s largest investor SoftBank, told Cointelegraph …

An official from SoftBank has denied their involvement in the investment deal with Bitcoin (BTC) mining behemoth Bitmain that was reported last week by both crypto and mainstream media sources. As previously reported, Bitmain had allegedly sealed a pre-Initial Public Offering (IPO) financing deal which had brought its valuation to $15 billion. Both 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 — were purportedly involved. After receiving an anonymous tip that Tencent and SoftBank were not actually involved in any deal with Bitmain, Cointelegraph …

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 …