• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Terra Founder Do Kwon's Extradition To The US Approved
Bitmain Crypto Subsidiary Matrixport Seeking to Raise $40M

Bitmain Completes Staff Options Ahead Of US IPO, Sources Claim

Anja van Oosterhout by Anja van Oosterhout
4 years ago
in News, Bitcoin, Bitcoin Businesses, Mining, News teaser
0

Bitcoin mining giant, Bitmain, has allegedly completed the signing of employee options and will shortly undergo its initial public offering (IPO).


Bitmain Revives ‘$500M’ IPO

According to unnamed sources speaking to Chinese-language news outlet, Jiemian, Bitmain finished the signing late last month. This comes only 4 months after Bitmain’s proposed Hong Kong exchange IPO application lapsed. 

“Bitmain previously only gave options to core development staff and those who joined before October 2015,” a rough translation of the sources’ comments reads.

This time, anyone who joined before 2018 and who have certain positions will get options… almost all of them.

The news comes in tandem with a reversal in fortunes for Bitmain, as with other mining companies, as the 2019 Bitcoin bull market transforms mining potential. The company has allegedly already plugged the gap in funding triggered by the 2018 bear market, according to the sources.

Bitmain did not respond to a confirmation request from Jiemian, but was already the subject of fresh IPO speculation after mainstream media reports surfaced several weeks ago.

As Bitcoinist reported, at the time, sources quoted a target figure of $500 million for the sale.

“[Bitmain] is working with advisers on preparations for a U.S. share sale that could take place as soon as the second half of this year,” Bloomberg reported quoting more anonymous sources.

“Bitmain aims to file listing documents with the U.S. Securities and Exchange Commission as soon as next month”

Bitmain Earns Back BTC Bear Market Losses

The reemergence reflects the overall optimism which has returned to the Bitcoin mining market since the beginning of the upturn in April. Other companies have reported expansion plans and better-than-expected financial performances, with the remainder of the year set to see the creation of new eco-friendly mining farms. 

Last month, a report highlighted the continued investment piling into mining in a bid to transform its profitability. Energy management was key, the figures noting around 74 percent of power used in the industry came from renewable sources. 

Bitmain had previously issued warnings about both profits and viability. At the end of 2018, when Bitcoin traded around $3500, the company began closing operations in locations such as Israel, as well as laying off staff. 

A senior management reshuffle followed, which reportedly saw former CEO Jihan Wu transfer to a less managerial role, something the Jiemian sources also appeared to confirm. 

“Although Wu Jihan is a director, he has no voting rights on the board of directors,” they said. 

 

What do you think about the Bitmain reports? Let us know in the comments below!


Images courtesy of Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Anja van Oosterhout

Anja van Oosterhout

Related Posts

Polygon

Polygon Reigns Supreme With 76% Inscription Activity On EVM Chains

14 hours ago
Terra Classic

Terra Classic Price Climbs 77% Amid Do Kwon Extradition Drama

16 hours ago
Bitcoin supply

93% Of All Bitcoin Has Now Been Mined, How Much BTC Is Left?

18 hours ago
IBM

Big Blue’s Big Move: IBM Reveals Cutting-Edge Crypto Cold Storage Tech

2 days ago
Bitcoin

Swiss Pioneers: Lugano City Breaks New Ground, Accepts Bitcoin And USDT For Taxes

3 days ago
Bitcoin

The Bitcoin Boom: 50 Million Addresses Signal 20% Rise In Adoption

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
Inmerion
Inmerion

Press Releases

  • 7 DeFi tokens to make you rich in 2024

    9 hours ago
  • Retik Finance (RETIK) will Replace Polygon (MATIC) in 2024

    9 hours ago
  • This New Casino Token Offers Daily Passive Rewards Up to...

    10 hours ago
  • Investors Pile Onto eTukTuk (TUK) Presale, Under A Week...

    10 hours ago
  • 3 Days Left to Join the Chimpzee Presale: Last Chance to...

    10 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
      • Non Gamstop Casinos
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.