Bitmain files for listing at the SEC

A few reports are claiming that Bitmain, a Bitcoin mining conglomerate, has filed a listing application at the US SEC (Securities and Exchange Commission) with Deutsche Bank as an underwriter.

The mining giant has already filed for IPO on the Hong Kong Stock exchange which was hesitant in accepting the listing at first but eventually did. Now that the Hong Kong listing is about to expire, Bitmain seems to be leaning more towards the US Securities Market. 

This news came after Canaan, a Bitmain competitor, announced that it will be filing for listing on the NASDAQ (Read More). According to PanDaily, when the Hong Kong Stock Exchange IPO period terminated, Bitmain wrote an internal letter announcing a restructuring of the company. Wang Haichao will be serving as the company’s CEO, and Bitmain’s former co-CEOs and co-founders, Jihan Wu and Micree Zhan, will continue on as directors. According to the internal letter, “This round of IPO application will expire in the near future, and the listing process will be restarted at an appropriate time in the future.”