This article was updated on Jan. 14 to include recent developments. On Jan. 10, news emerged that Chinese Bitcoin mining giant Bitmain’s co-founders, Jihan Wu and Micree Zhan Ketuan, will step down as co-CEOs of the company. The move follows a streak of reports suggesting that Bitmain has been facing mass layoffs, class action lawsuits and difficulties related to its initial public offering (IPO) during the last quarter of 2018. So what exactly is happening with one of the world’s most influential crypto outfits? Brief introduction to Bitmain, the world’s most powerful crypto mining giant Bitmain was founded in 2013 …

Chinese Bitcoin mining hardware manufacturer Canaan Creative is considering a new initial public offering (IPO) in New York, Bloomberg reported on Jan. 8, quoting anonymous sources. Canaan, China’s second-largest hardware player, could begin selling its shares in a private placement in the first half of this year, according to the people familiar with the matter who declined to reveal their identity. Canaan, like industry leader Bitmain Technologies, had originally planned to conduct an IPO in Hong Kong, but the $400 million plans lapsed in November. Without quoting the anonymous sources directly, Bloomberg added that “deliberations are at an early stage, …

Ebang, a crypto mining ASIC hardware producer, has suffered “significant decreases” in revenue in the third quarter of 2018. This development was reported in a new IPO filing submitted by the company to the Hong Kong Stock Exchange (HKEX) on Dec. 20. This is not the first time Ebang has tried to launch an Initial Public Offering (IPO), as the company’s first application from June has reportedly lapsed. HKEX only requires the financial period reported by IPO applicants not to end more than six months from the day of the listing document. Following this requirement, Ebang included its financial information …

Hong Kong’s stock market regulator is reportedly reluctant to allow Bitcoin mining equipment manufacturer Bitmain to conduct an initial public offering (IPO) in the city. Local English-language newspaper South China Morning Post (SCMP) made this claim in an article published Dec. 19, with reference to anonymous sources. Citing two “sources familiar with the matter,” SCMP poured more cold water on the plans of mining giant Bitmain to go public, just a day after the Hong Kong Stock Exchange (HKEX) told Cointelegraph that any reports of hesitation on the part of the company were “rumors.” According to the publication’s sources, Hong …

A Hong Kong Stock Exchange (HKEX) spokesperson has called Bitmain’s alleged hesitation around a purported initial public offering (IPO) “rumors,” in an email to Cointelegraph Dec. 17. When asked for verification and details on the crypto mining firm’s IPO status, the spokesperson responded that “HKEX does not comment on rumors.” Blockchain and crypto media had previously reported that the exchange was “hesitant” to host its IPO because of market conditions surrounding the overall crypto mining business. Anonymous sources have reportedly claimed that “the exchange is very hesitant to actually approve these Bitcoin (BTC) mining companies because the industry is so …

United States cryptocurrency exchange Kraken is considering a private offering to high-net-worth investors, Finance Magnates reported Dec. 12, quoting emails sent by the company. Kraken, which is currently the subject of a lawsuit over its support of the competing forks of altcoin Bitcoin Cash (BCH), has reportedly valued its shares at $4 billion. According to Finance Magnates, executives are now offering select major clients to whom the email was sent a chance to acquire further equity, subject to a minimum investment of $100,000. “The transaction process will be done by a 3rd party service, who will run accredited investor checks, …

Cryptocurrency mining equipment producer Canaan’s Initial Public Offering (IPO) application has lapsed, Reuters reported Nov. 15. The offering was set to take place on the Hong Kong Stock Exchange (HKEX). Founded in 2013 in China, Canaan manufactures application-specific integrated circuits (ASICs) for digital currency mining. Canaan is the world’s second largest cryptocurrency hardware maker, collecting a revenue of 1.3 billion yuan ($187 million) in 2017. The company’s profit in the same year was 361 million yuan ($52 million), which is a 230 times increase from 2015, per business news outlet Quartz. Canaan revealed its IPO plans in May, claiming to …

Bitcoin mining infrastructure provider Bitfury has raised $80 million in a closed funding round, the company revealed in a press release shared with Cointelegraph Nov. 6. The round, which comes weeks after rumors Bitfury was considering an IPO, was led by European venture capital fund Korelya Capital. Other participants included South Korean internet giant Naver Group, Asian institutions Macquarie Capital and Dentsu Japan, as well as Michael Novogratz’s Galaxy Digital. “This private placement will take our corporate governance to the next level, broaden our financial strategic options, and ideally position us for our next phase of growth as the market …

Investigators have reportedly halted the public listing process of cryptocurrency mining machine manufacturer Ebang International on the Hong Kong Stock Exchange (HKEx), local financial news outlet Sina Finance reported Oct. 14. According to reports, the move was prompted by the firm’s alleged involvement in illicit financial practices. Ebang International operates in the field of Application-Specific Integrated Circuit (ASIC) chip design and production, telecommunications services, and the development, manufacture and sale of blockchain processors, or miners. In 2017, the company’s market share reportedly was 11 percent in terms of sales revenue, totalling 9.79 billion yuan ($1.4 billion). The annual profit of …

Major U.S. cryptocurrency exchange and wallet provider Coinbase will not perform an initial public offering (IPO) “any time soon,” the company’s President and COO Asiff Hirji told Bloomberg today, Oct. 31. Speaking to Bloomberg TV, Hirji, who himself was the first to hint about the potential for an IPO in 2017, said that while the company would go public “at some point,” it was “not even close to the top” of its list of priorities. He confirmed to reporters today: “There’s not going to be an IPO any time soon; we have so much to do.” Last week, CNBC host …

Blockchain technology company Bitfury is considering a potential Initial Public Offering (IPO), which could reportedly become the first major public listing in the crypto industry in Europe, Bloomberg reported Oct. 25. People familiar with the matter reportedly told Bloomberg that Bitfury is examining a range of options including raising debt financing or selling a minority stake. Should Bitfury go public in the following two years, its value could reach from $3 billion to $5 billion. However, the numbers could change depending on the markets and the health of the industry, purported sources told Bloomberg. Bitfury has reportedly contacted global investment …

Ran Neuner, host of of the Crypto Trader show on CNBC Africa, claims that major crypto exchange and wallet Coinbase is about to announce its first Initial Public Offering (IPO), according to a tweet Thursday, Oct. 25. Neuner states that the details on Coinbase’s IPO are to be revealed Friday, Oct. 26, live on the CNBC Crypto Trader show. The host also provided statistics on Coinbase’s revenue and account numbers in his post. The infographics show that the number of users on Coinbase has now reached 25 million, with 600,000 actively trading on the platform. Source: Ran NeuNer’s tweet As …