{"id":19903,"date":"2019-06-21T20:20:55","date_gmt":"2019-06-21T20:20:55","guid":{"rendered":"http:\/\/ci027cfe77e00c26c3"},"modified":"2019-06-21T20:20:55","modified_gmt":"2019-06-21T20:20:55","slug":"bitmain-is-giving-its-ipo-another-go-this-time-on-u-s-soil","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/bitmain-is-giving-its-ipo-another-go-this-time-on-u-s-soil","title":{"rendered":"Bitmain Is Giving Its IPO Another Go, This Time on U.S. Soil"},"content":{"rendered":"
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The crypto market is pumping, and mining monolith Bitmain is riding the wave. According to Bloomberg<\/em><\/a>, the company is eyeing another initial public offering (IPO), this time in the United States. <\/p>\n

Its first attempt to go public on the Hong Kong Stock Exchange lapsed<\/a> earlier this year amidst reported financial troubles<\/a> stemming from the bear market and its holdings in bitcoin cash, which were cleft in half following the Bitcoin SV chain split. <\/p>\n

But the market is bouncing back and Bitmain has been suffused with new financial life. The company has been consulting advisers and prepping documents to apply for an IPO with the U.S. Securities and Exchange Commission. This filing could hit the commission\u2019s desk by July 2019, and sources say that the IPO could go live before 2019 ends.<\/p>\n

With a valuation of $15 million granted in its Hong Kong IPO process, Bitmain was seeking $3 billion in funding during its first go around. Now, however, the firm is reportedly chasing a more modest $300\u2013500 million (though this figure is not final). <\/p>\n

The U.S. might offer a more favorable investment landscape for the company. In its coverage, Bloomberg<\/em> cites a South China Morning Post<\/em> article that argues that regulators and exchange operators view IPOs by cryptocurrency companies as too \u201cpremature\u201d to expose to retail investors. <\/p>\n

For what it\u2019s worth, this hasn\u2019t stopped them from trying. Two of Bitmain\u2019s Chinese competitors, Canaan Creative<\/a> and Ebang<\/a>, have both filed for IPOs on the Hong Kong Stock Exchange, though Canaan Creative eschewed these plans, and Ebang\u2019s two filings, like Bitmain\u2019s own, expired. Canaan Creative is reportedly mulling over an IPO in the U.S. as well, Bloomberg<\/em>reports<\/a>. <\/p>\n

If Bitmain and\/or Canaan Creative were to succeed, they would become the first Bitcoin-related companies to take their businesses public to be traded on traditional markets. A representative for Bitmain had not returned Bitcoin Magazine<\/em>\u2019s request for comment by the time this story was published.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following an attempt to go public on the Hong Kong Stock Exchange last year, crypto mining leader Bitmain will reportedly attempt a U.S.-based IPO.<\/p>\n","protected":false},"author":2566,"featured_media":19904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[3299,197,2088,3369,472,2799],"class_list":{"0":"post-19903","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bchsv","9":"tag-bitmain","10":"tag-canaan","11":"tag-ebang","12":"tag-hong-kong-stock-exchange","13":"tag-ipo"},"author_data":{"id":2566,"name":"Colin Harper","nicename":"colin-harper","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/MjEwMTYzMzc3Njg5ODYzNjQ2-96x96.webp"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/bitmain-ipo.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/19903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2566"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=19903"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/19903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/19904"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=19903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=19903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=19903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}