Bitmain Technologies, the world's largest designer of products used for min...
HONG KONG - Bitmain Technologies, the world’s largest designer of products used for mining cryptocurrencies, on Tuesday let its application for a Hong Kong initial public offering lapse as hopes for cryptocurrency companies to go public fade.
Bitmain’s application lapsed on Tuesday, six months after it was filed, the Hong Kong stock exchange’s website showed. Bitmain designs different microchips specialized for mining cryptocurrencies and for artificial intelligence applications, as well as manufacturing cryptocurrency and AI hardware, and managing crypto mining farms.
Bitmain’s IPO hopes suffered the same fate as those of smaller cryptocurrency mining equipment maker Canaan Inc, which let its own IPO application lapse last year.
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