Bitmain, the world’s largest bitcoin miner producer, plans to list in the US after the Hong Kong listing plan fell through. It is said that this time Bitmain intends to raise $300 million to $500 million US dollars in the United States, a far smaller amount than the $2.43 billion to $3.9 billion US dollars it had planned for in Hong Kong. The application documents will be submitted to the US Securities and Exchange Commission as soon as next month.
As the cryptocurrency market turned into a bull market, Bitcoin continued to hit a new high for more than a year, and Bitmain is also preparing to restart its prospectus. According to a source quoted by Bloomberg recently, Bitmain plans to go public in the second half of this year, but the details of the have yet been implemented. Last year, the company wanted to go public in Hong Kong, but it did not progress since the application for paper. As a result, its application eventually lapsed.
Bitmain’s valuation reached $15 billion USD in private fundraising last year. However, it is said that this type of mining company holds cryptocurrency assets and was rejected by the Hong Kong Stock Exchange and the regulatory authorities due to price fluctuations. As a result, Bitmain may have to move to other places to go public. As for the other two mining companies, Yibang International and Jianan Zhizhi, they also planned to apply for listing in Hong Kong last year, but the application also stalled.