News from Bitmain
Last week, the giant was forced to close its research centre in Israel. He was one of the largest in the blockchain industry, but a bear market forced the company to suspend its work. However, this is bad news for Bitmain has not ended.
Increased after a stable November, the volatility and significant fall in prices as a result of increased bearish pressure on the market caused the administration HKEx more and more reluctance to approve Bitmain on the IPO.
In September Bitmain together with its main competitors Canaan Creative and Ebang applied to sell their shares on this exchange. At the time of submission of plans Bitmain was the further expansion of geography of presence and the development of new, more competitive equipment for mining, as well as opening new farms.
However, according to unnamed because of the nature of this information source all these companies you should not rely on the IPO:
“Exchange is not eager to contact cryptainerle companies due to the overall volatility of this industry. Moreover, there is no doubt that all these companies are unlikely to live longer than a year or half. HKEX aspires to become the world’s first exchange to implement this kind of company, as there is a risk that one of them “die” on the exchange”.
If an anonymous source is right, then who knows how will continue to exist bursting at the seams Bitmain. Monopoly for the whole year was actively losing profits to take. There is also the risk of losing profits from the U.S. market because of new duties. This despite the fact that major competitors Bitmain also do not sleep and do not fear the shopping duties from the White House.