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Chinese cryptocurrency miner Bitmain Technologies has secretly applied for an IPO in the US Securities and Exchange Commission (SEC). The report says that German multinational Deutsche Bank is the main sponsor of this secret IPO application. Bitmain has not yet revealed the amount it intends to raise. However, an earlier report had mentioned that Bitmain expects to raise $300 million – $500 million in its US offering. Furthermore, Bitmain had applied for a $3 billion IPO on the Hong Kong Stock Exchange (HKEX). However, the IPO had to be scrapped.
Bitmain has hired Zheng Hua, the former representative of Nasdaq China, as a consultant.