MicroBT, a Chinese manufacturer of mining equipment under the Whatsminer brand, is planning an initial public offering (IPO) on the US NASDAQ, 8btc said, citing sources.
MicroBT is the second largest miner manufacturer in the world after Bitmain.
According to sources, MicroBT was studying the possibility of listing on the exchange in early 2019. The company’s plans were influenced by the prosecution of founder Yang Zuoxing, initiated by Bitmain. The former employee of the company was allegedly involved in the success of the Antmainer S7 and S9 flagships. Zuoxing left Bitmain in June 2016 after the company’s co-founders denied him a stake. A month later, he founded MicroBT.
MicroBT reportedly completed a $ 700 million funding round in January 2019.
We will remind, earlier on NASDAQ IPO was held by Canaan. Later, through listing on the exchange, Ebang received public status.
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