Mining giant Bitmain is planning to launch an IPO in the US

by in Cryptocurrency News

Mining giant Bitmain is planning to launch an IPO in the US

Bitmain technologies Ltd., one of the chief crypto mining hardware corporations, decided to start an IPO in Hong Kong in September 2018. It even registered an IPO on the HKEX, but the attempt faced with some hardness and the corporation stopped the process.

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Now, as Bloomberg reported, the mining giant decided to restart the IPO attempt, but this one it’s going to be in the US.

According to sources, the corporation proposes to submit papers with US Securities and Exchange Commission this July. The company is discussing with various advisers over a US public listing.

Although there’s no certain information about fundraising destination, as the source reported, the company may be decreasing its former the target to approximately $300 million–$500 million in the U.S. offering. Bitmain expected to raise over $3 billion in Hong Kong’s IPO.

Bitmain refused to comment on this news. The company’s US IPO is in the earlier steps of preparation, which means that lots of things can be modified.