the The Long-planned IPO of the Mining Hardware manufacturer Bitmain is for the time being, off the table. The period of six months was provided for the audit of the IPO application, has elapsed. Bitmain is aiming to continue to be listed on the stock exchange, moves to the next thrust but now for an indefinite period of time.
By Christopher clover
26. March 2019BTC$3.931,77 -1.21%part Facebook Twitter LinkedIn xing mail
Which would be presented to the Mining giant must be different: for now, Bitmain is allowed to stop on the Hong Kong stock exchange HKEx is no Initial Public Offering (IPO, IPO). 26. In March, the six months covered period of Bitmain-application delivery, so this is now for the time being, off the table. In this case, the Failure of the application does not come out of the blue. The Hong Kong stock exchange has already made its submission on 26. September 2018 behaviour is not responding. Even then, skeptics had in the HKEx concerns whether the volatility in the crypto market.
“The real risk, that they could not simply exist”
The strong price declines in November, gave water to the mill of those business models that are based on this supposedly sandy bottom, with a critical distance. So it was in December of HKEx insiders:
The stock market is very hesitant to approve this Bitcoin-Mining-companies actually, since the industry is so volatile. There is a real risk, that they could not exist in a year or two.
it was Now, and Bitmain is trying, however, to dispel the Concerns of the stock market and the business model and the corporate structure adjustments. In the process, Bitmain will concentrate now mainly on the already sales, stronger business with ASIC-based Mining Hardware.
Since Bitmain is not only produces Mining Hardware and sells, but with Antpool also one of the largest Mining Pools operates, the company twice by crypto-market -rates. As the Mining business due to the weak second half of the year 2018, the bad, decided to Bitmain here radical “operational adjustments” (= redundancies). Against this Background, the closure of the 2016 in Israel was established Blockchain-research centre of the Mining giant.
When IPO? Later(ish)
despite this, Bitmain is aiming to continue to be listed on the stock exchange. The Failure of the first start-up is trying to sell the company as a necessary correction. So it is in a on the occasion of the IPO cancellation, made Blog Postings from Bitmain:
We hope that regulatory authorities, the media and the General Public can be involved in this young industry to a greater extent. We will begin working on the listing request to an appropriate time in the future. In the meantime, the IPO has made the company more transparent and standardized. The process of rationalization and optimization has aligned our business to focus on the things that are for our Mission is of Central importance.
when will be this “appropriate time”, it will determine the Figures for the financial year 2019.
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