Crypto Billionaires Open Their Books With Bitmain IPO Filing
- Company co-founded by Jihan Wu, Micree Zhan plans H.K. listing
- Share-sale plan coincides with a deep cryptocurrency selloff
A Bitmain Technologies Inc. device at a cryptocurrency mining facility in Incheon, South Korea.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
One of the cryptocurrency world’s most powerful, controversial and secretive companies just opened its books for the first time.
Bitmain Technologies, the virtual currency mining firm co-founded by billionaires Jihan Wu and Micree Zhan, released its first public financial statements in a Hong Kong regulatory filing late Wednesday. The disclosure, which also confirmed Bitmain’s intention to pursue an initial public offering, follows months of speculation about the company’s listing plans and its potential vulnerability to a more than $600 billion rout in digital assets since January.