Bitmain spoke about change of CEO and intention to re-apply for IPO
Chinese mining company Bitmain has confirmed Monday that its IPO filing on the Hong Kong Stock Exchange (HKEx) has expired and has shared some future plans on its blog..
In the publication, the company talks about the development over the past two years, describes changes in operations and assesses their impact on its future. Bitmain clarifies that it filed for an IPO in September 2018, which has now reached its six-month wait period. Without disclosing a specific deadline, the company writes that it intends to re-issue the application: “We will resume work on the listing application at an appropriate time in the future.”.
Bitmain also reported on “focusing attention” on chips for cryptocurrency and artificial intelligence and related products and services: “We have clearly delineated the business into mining equipment, AI, mining farms and mining pools.”.
In addition, the company confirmed information released by insiders earlier this year regarding the leadership changes: “Under the new operating model, Haichao Wang has been named CEO. Mikri Jean and Jihan Wu, the co-founders of Bitmain, will continue to serve as directors to guide the strategic development of the company. “.
Finally, Bitmain mentions its latest devices, including the Antminer Z11, Antminer S17 and T17, as well as recently signed cooperation agreements with local companies and authorities..
“While it is not our policy to disclose privacy investments for those we finance, we can confidently state that we have already funded one great deal and will continue to do so throughout 2019,” concludes Bitmain.
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