• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Amazon and Walmart Eye Launch of Their Own Crypto, Details
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Amazon and Walmart Eye Launch of Their Own Crypto, Details
expire bitmain bitcoin ipo

Bitmain IPO Application Fails to Impress – Set to Expire Today

Osato Avan-Nomayo
by Osato Avan-Nomayo
6 years ago
·
Posted in News, Bitcoin Businesses, Companies, Mining, News teaser
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

After six months of inactivity, the Bitmain IPO is set to expire bringing to a close another difficult chapter for the beleaguered cryptocurrency mining behemoth.


Bitmain IPO: Dead on Arrival

The Bitmain Technologies application for an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX) expires today, Monday (March 25, 2019).

Exactly six months ago, Bitcoinist reported that the company had published its first ever public financial information disclosure as part of its IPO filing.

Reports indicate that regulators at the HKEX remained unconvinced of the company’s business model and thus refused to approve the IPO. Back in 2018, Canaan, one of Bitmain’s competitors was also unable to go forward with its IPO filing on the HKEX.

According to the listing requirements as stated by the HKEX, IPO applications that fail to move to the “hearing stage” within six months, automatically become expired. Though it remains to be seen whether the Bitcoin mining giant will now refile the IPO application.

Bitmain

Refile with the HKEX or Look Elsewhere?

Bitmain electing to refile with the HKEX could have significant implications for the company especially on the financial disclosure front. According to the HKEX listing guidelines:

The latest financial period reported on by the reporting accountants for a new application must not have ended more than six months from the date of the listing document.

Based on the above rule, Bitmain will be forced to release its Q3 2018 financials, to the public. Reports indicate that the company lost more than $740 million in that particular period and has refused to disclose any figures.

Dovey Wan, founding partner at Primitive believes the company might look to the NASDAQ. Back in January 2019, Bitcoinist reported that Canaan was considering filing its IPO in New York.

There is a 6 months window for an IPO filing to be moved into IPO hearing stage, if the hearing does not happen in 6 months it will automatically expire 🕯️🕯️🕯️

Bitmain’s next attempt can be NASDAQ but it needs to find another underwriter, and fix its financials

— Dovey "Rug the fiat" Wan (hiring) (@DoveyWan) March 24, 2019

What Next for Mining Behemoth?

Since submitting its IPO back in September 2018, Bitmain has experienced numerous issues that have significantly impacted the company’s financials. The decision to bet heavily on Bitcoin Cash saw the company record huge losses in a single quarter.

Aside from poor business decisions, 2018 also marked a prolonged bear market for cryptocurrencies, with prices falling more than 80 percent across the board. In the latter part of the year, Bitmain took to reducing its staff strength, laying off a couple of departments.

Will Bitmain be able to initiate another IPO process in 2019? Share your thoughts with us in the comments below.


Image courtesy of Twitter (@DoveyWan), Shutterstock

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Osato Avan-Nomayo

Osato Avan-Nomayo

Follow

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Full Profile

Related Posts

GameStop

GameStop Diversifies With 4,710 Bitcoin—Smart Hedge Or Risky Play?

2 weeks ago
Bitcoin

Strive Eyes Bitcoin With $750 Million Ammo In Hand

2 weeks ago
trump

Trump: manovra da 3$ miliardi in Bitcoin

2 weeks ago
Strategy

Market Shock Incoming? Strategy Stock Could Crash Then Soar, Analyst Says

3 weeks ago
Blockchain

Hong Kong Taps Blockchain: Europe’s Biggest Bank Rolls Out 1st Settlement Service

3 weeks ago
Tesla

Tesla Maintains $1.25 Billion In Bitcoin Holdings, Signaling Continued Confidence

3 weeks ago
Please login to join discussion

Premium Sponsors

Press Releases

  • DOGE, XRP, Pi price prediction for June: Cloud mining may...

    3 hours ago
  • XRP and DOGE holders quietly turn to APT Miner, earning...

    16 hours ago
  • 2025’s Best Performing CloudMiner, Holding a Secret...

    20 hours ago
  • XRP and Doge Investors Quietly Move to APT Miner: Earning...

    20 hours ago
  • ETHRANSACTION Mining Platform: “Just tap your phone...

    21 hours ago

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

Buy Neo Pepe

Bitcoin

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

Altcoins

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

Categories

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

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • 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
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 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.