On the afternoon of the 21st, the financial media Bloomberg said that according to informed sources, the mining machine manufacturer Bittland is preparing to go to the US IPO. The time is probably in the second half of 2019. "It may raise about $300 million to $500 million from the sale of US stocks, but it has not yet determined the specific amount it wants to seek," Bloomberg quoted a person familiar with the matter.
Babbitt asked Bit China for verification. The other party said: "Market information is not commented."
Why not go to Hong Kong and go to the United States?
Bitcoin submitted a prospectus to the Hong Kong Stock Exchange in September 2018. The prospectus disclosed that in the first half of 2018, Bitland’s revenue was $2.845 billion, and mining machine sales accounted for 94.3% of the total revenue of Bitco. Its net profit increased from US$83 million in the first half of 2017 to US$743 million in the first half of 2018, an increase of nearly 8 times year-on-year.
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Even with the gold armor of the "mine mining industry hegemony", Bitland is still smashing Hong Kong. On March 26, 2019, Bitland did not enter the listing hearing period within 6 months after submitting the prospectus. According to the rules, its listing application will automatically lapse.
Why did it fail? Earlier, Li Xiaojia, president of the Hong Kong Stock Exchange, responded to a question from Tencent’s “Plough” reporter: “You used to earn billions of dollars through the A business, but suddenly said that you want to do B business in the future, but there is still no performance. Then I I feel that the A business model that you brought to the market at the beginning is not sustainable. Then you can still do this business, can you make this money?"
Li Xiaojia may refer to the main business of Bitcoin as a mining machine, but it claims to enter the AI (artificial intelligence) field, focusing on chip design and AI hardware development.
However, Bloomberg also said in a recent article that Hong Kong has been trying to attract more high-growth technology companies, while still retaining the protection of many retail investors, the cryptocurrency IPO is "premature."
Three months later, assuming that Bloomberg broke the news correctly, it indicated that Bittland had abandoned Hong Kong and turned to the US stock market. But what's interesting is that, indiscriminately, Bloomberg once broke the news that Jia Nan Zhizhi, who had previously failed in the IPO in Hong Kong, is also considering going to the US.
Facebook released the Libra white paper on digital currency. Morgan, HSBC and Citigroup also expressed their decisive battle blockchain. All developments may be explaining a problem: In the United States, as the regulation becomes more clear, it may become a hot spot for the blockchain industry. So, how many companies will go to the US for opportunities? Will the layout of the blockchain world tilt toward the United States?
In 2018, the tragedy scene ended, and the bitcoin station stood at 9,800 dollars to open the "bull market" drama.
In 2018, the price ushered in Waterloo, the price fell to more than 3,000 US dollars, the whole industry suffered a setback. Bitcoin's performance is also miserable. At the same time, some lace news is also like a "black cloud" around the bit continent. Including the founders Wu Jihanhan and the Junkers were violently diverging in the direction of the company's development, the new mining machine developed difficulties, the company layoffs and so on.
At the site of the Bitumin Convention, Wu Jihan and the Jenke group’s crying pictures were mad in the industry, and the mood of the hero’s ending was embarrassing.
In a blink of an eye, in October 2019, bitcoin prices soared. To this day, bitcoin prices stood at $9,700, with a trend of up to $10,000. In the past six months, the Bit Continental mining machine ant S9 has risen from the second-hand minimum of 400 yuan to more than 2,000 yuan. Looking at the official website of Ant Mining Machine, most mining machines have increased prices across the board. 7nm chip new mining machine ants S17 53T and 40T and other models sold out.
▲ Ant mining machine official website screenshot
The bull market clearly gave the mining machine a "blood back" opportunity. Not only that, on June 5th, a news suddenly froze in the circle. The long-lost bit of mainland China CEO Wu Jihan will launch a new startup, Matrix, before the end of July, and the company's business direction is over-the-counter (OTC) and asset management. Media analysis, as a project in the internal incubation of Bitcoin, Bitcoin or become a major customer, which means that Matrix may become the "largest OTC trading platform in the world" overnight.
Chen Lei, the founding partner of Bit Blue Whale, said in an interview with Babbitt: "The target is definitely the largest BTC trading depository platform. If they do, it means that the BTC's minting issuance cost and depository interest rate will be very high. Big pricing power."
The market has been leaping forward, and the internal organizational restructuring and business segmentation of Bitland seems to be gradually clear. Once again, the IPO means that the bull market is coming? Or do you want to prepare food for the colder winter?