World's largest maker of crypto mining chips said to plan US$3bil IPO

Wu Jihan, co-founder of Bitmain Technologies Ltd. - Bloomberg

HONG KONG: Bitmain Technologies Ltd, the world’s biggest producer of cryptocurrency mining chips, is planning a Hong Kong initial public offering that could raise as much as US$3bil, people with knowledge of the matter said.

The Beijing-based company, whose 32-year-old co-founder Jihan Wu is one of the most powerful players in crypto, plans to file a listing application with the Hong Kong stock exchange as early as September, said the people, who asked not to be identified because the information is private.