3 Reasons Why the Bitmain IPO Could Fall Through

The  ASIC (Application Specific Integrated Circuit) chip manufacturer of Bitmain is a privately held company headquartered in Beijing, China. Founded by Jihan Wu and Micree Zhan in 2013, the firm has grown to become one of the biggest player in designing hardware for mining Bitcoin. The firm also operates the large cryptocurrency mining company’s of BTC.com and Antpool.

Back in early June this year, Bloomberg reported that Bitmain had a valuation of about $8.8 Billion and that its founders were considering an IPO (Initial Public Offering) to list the company on the Hong Kong Stock Exchange. The IPO was seen by many as an avenue for Bitmain to boost its company profile as well as that of the cryptocurrency industry.

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