Bitmain will hold IPO outside China
Source:In January, a Chinese manufacturer of ASIC miners Bitmain about their intention to open a subsidiary in Switzerland and eventually moved to Northern Europe's main production facilities. The reason for the decision were restrictions on the sale of equipment for mining cryptocurrency in the homeland of the company.
Oh now that Bitmain decided to leave China, according to the head of the company of Jihan Wu, the manufacturer intends to launch an IPO outside the country. About it writes .
theLike mine in China — the answer Bitmain (no)
For the IPO, the company is considering Hong Kong or other foreign markets where payments are made in dollars, said Wu. Bitmain is already in talks with potential investors, among those who gave consent prior to attachment, the top Manager called Sequoia Capital and IDG Capital.
the purpose of the IPO is to raise funds for the development of alternative industries, such as the development of equipment for learning artificial intelligence. We want to advance our technology beyond what we have already achieved.
As the newspaper notes, now Bitmain is facing criticism from users — they believe that total control of the company in sales of equipment equipment for mining evidence of the centralization of industry. According to the February report Sanford C. Bernstein & Co., on Bitmain accounts for up to 80 percent of worldwide sales of the devices to mining cryptocurrency
of the company declare that in fact they are constantly fighting competitors for market share. For example, the main rival Bitmain Canaan Inc. in April announced plans to hold an IPO in Hong Kong for a billion dollars.
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