Bitmain, one of the most successful cryptocurrency mining product developers, has announced that it will be looking to have an initial public offering (IPO) in the United States (US). Deutsche Bank will primarily sponsor the Bitmain IPO.
For the moment, there is no official information on the amount of money the Bitmain IPO is looking to attract. However, preliminary reports quote figures between $300 million and $500 million.
Currently, Bitmain is in preparation of all documentation related to the initial public offering. The cryptocurrency mining enterprise has already submitted an application with the US Securities and Exchange Commission (SEC).
To better prepare for the upcoming IPO, Bitmain also attracted a former NASDAQ China employee, to become Bitmain’s leading consultant on the project.
Previously, Bitmain made attempts to launch an IPO on the Hong Kong stock exchange. However, these plans failed earlier this year.
Bitmain is currently one of the most prominent names in cryptocurrency mining worldwide. Recently. The company launched a mega-facility in Texas. The new Rockdale farm will be the most significant mining facility in the United States.
With this project, Bitmain is aiming to solidify its position as the leader in cryptocurrency mining, especially in the United States. According to an official press release, the Rockdale project is one of Bitmain’s primary focuses, as it will make the United States a leading country in the industry.
If Bitmain manages to go through an initial public offering successfully, this will allow the company to develop more facilities like the one in Rockdale. Bitmain is currently a leader in the industry, but an IPO will make the company’s activities skyrocket.