Share this article
Bitmain Seeking US IPO With Confidential SEC Filing: Report
The bitcoin mining giant is said to have confidentially filed for an IPO in the U.S.
Updated Sep 13, 2021, 11:38 a.m. Published Oct 30, 2019, 9:35 a.m.
Bitcoin mining giant Bitmain is said to have confidentially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission.
Sponsored by Deutsche Bank, the offering was filed with the SEC earlier this week before a recent management shakeup saw the ousting of Bitmain co-founder and executive director Micree Ketuan Zhan Oct. 29, according to Tencent News.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitmain will now undergo questioning by the U.S. securities regulator before – if allowed – submitting an F1, a certification required for foreign companies before listing in U.S. securities markets. It's not clear how much capital the firm is looking to raise through the public offering.
Bitmain’s U.S. IPO dreams follow a failed attempt to go public on the Hong Kong Stock Exchange (HKSE) in 2018. The mining giant’s application lapsed in March 2019 and was not re-filed. Bitmain declined to comment on the lapsed application at the time.
To increase the firm’s chance of a U.S. listing, Bitmain has also hired the former representative of Nasdaq China, Zheng Hua, as a consultant, Tencent News reports.
CoinDesk reached out to Bitmain to confirm the news, but a representative would not comment.
The effects of the leadership shakeup on the listing process have yet to be seen. As of the last listing attempt on the HKSE, departed executive Zhan held a 36 percent stake in Bitmain Holdings, the parent company of Beijing Bitmain Technology. Co-founder and now chairmen-of-the-board Jihan Wu owns 20 percent of the firm.
Bitmain's U.S. IPO plans come alongside a notable investment in the region. Earlier this month, the company opened a new mining plant in Rockdale, Texas. Beginning at 25 megawatts for dedicated bitcoin mining, the converted aluminium smelter plant has the potential to scale up to 300 megawatts.
And just two days ago, miner manufacturing rival Canaan also filed for an IPO with the SEC. The offering prospectus indicates it intends to list on NASDAQ under the ticker symbol "CAN" and sets a placeholder amount of $400 million for the raise.
Bitmain chairman Jihan Wu image via CoinDesk archives
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin trades near key price safety net that Strategy already breached
The safety net is the 100-week average, which has stalled the downtrend.
What to know:
- Bitcoin trades near a critical 100-week simple moving average, a key support level for bulls.
- Strategy shares have already fallen below this average, signaling potential bearish trends for bitcoin.
- Bulls must defend this support to prevent further declines similar to Strategy's recent losses.
Top Stories
