Bitmain confirms several rumors that have been circulating for a while in a post

26 Mar, 2019 | Updated: 26 Mar, 2019
by Fifi Arisandi
Bitmain confirms several rumors that have been circulating for a while in a post

Bitmain posted a blog post confirming several news/rumors that have been circulating for a while, such as the new CEO and the most recent, the expiration of their IPO filing to the Hong Kong stock exchange.

Only a day after the information about the expiration of their IPO filing to the Hong Kong stock exchange (HKex) was brought up on social media, Bitmain made a post confirming the info as well as other rumors in their official blog.

Read more: Bitmain's IPO filing is about to expire

Titled, “2019’s Focus is on Customers”, the post elaborated how the company has been evolving in the last couple of years, mentioning the operational changes that have taken place and how it will impact the company moving forward.

In one of the paragraphs, the company mentioned about their listing application to HKex, which they made in September 2018 that has reached its 6-month expiration date.

Without specifying the exact time, the mining equipment giant stated their plan to restart the listing application in the future.

“We will restart the listing application work at an appropriate time in the future,” the announcement read.

Bitmain also took the post as a chance to inform the public regarding their “focus alignment” to cryptocurrency and artificial intelligent (AI) chips, which includes related products and services.

“We have established clear business divisions for mining hardware, AI, mining farms and mining pools,” the team said.

Moreover, the Beijing-based corporation confirmed the news that spread from an insider earlier this year regarding the change in the leadership.

Read more: Update: Bitmain may not have replaced Jihan Wu (yet?)

Quoting the announcement, “Aligned to this new operational model, we have also made changes to our leadership. Mr. Haichao Wang has been appointed as CEO of the company.”

“Mr. Micree Zhan and Mr. Jihan Wu, the co-founders of Bitmain, will continue to be our directors to guide the company’s strategic development,” the announcement added.

Read more: Bitmain founders are on Forbes' 2019 list of billionaires

Part of the final words, the ASIC producer included information about their latest line of products, such as Antminer Z11, Antminer S17 and T17, as well as their recent cooperation agreements with local government and companies, like Fuzhou Municipal Government of Fujian Province, China Mobile Hangzhou Research and Development Center, and China Unicom Network Technology Research Institute.

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