Cryptocurrency and ICO news 08.06.2018

Bitmain considers an IPO

Jihan Wu, who runs Bitmain, the world’s dominant producer of cryptocurrency mining chips, announced that the company is seeking the way to expand beyond crypto industry. Eventually, it can lead to initial public offering (IPO), according to Bloomberg.

An IPO would not only open Bitmain’s books to the world, it would also allow the stock market to assign the company a value in real time. While Wu said he has no specific plans at the moment, he’s open to a listing in Hong Kong – or in an overseas market with U.S. dollar-denominated shares – because it would give early investors including Sequoia Capital and IDG Capital a chance to cash out.