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CRYPTO MINING GIANT, BITMAIN, LAUNCHING IN THE US

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In the latest company development by Bitmain Technologies Ltd, a crypto mining giant will soon be relaunching its Initial Public Offering (IPO) plans in the United States (US).

Bloomberg reported that “People with knowledge on the matter” have stated Bitmain is currently in consultations with advisors to launch in the US within the second half of 2019. According to sources, they will lodge all relevant documents needed with the US Securities and Exchange Commission in July 2019.

It isn’t yet finalised the amount that Bitmain wants to pursue through fundraising however, it has been suggested that they are hoping to reach a target of $300 – $500 million from the US share sale.

Bitmain is confident in the share sale with the price of Bitcoin (BTC) surging past $9,700 late last week, the highest level it has seen since March 2018.

Bloomberg has also reported that the preparations for the United States IPO launch are still in the very early stages and may be subject to change in the very near future.

Currently the price of Bitcoin (BTC), at time of press, is sitting at $11,627.67 +5.53%.

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