Bitmain Seeking U.S. IPO With Confidential SEC Filing: Report

Bitcoin mining giant Bitmain is said to have confidentially filed for an initial public offering with the U.S. Securities and Exchange Commission.

Sponsored by Deutsche Bank, Bitmain filed with the SEC earlier this week before a recent management shakeup saw the ousting of Bitmain co-founder and executive director Micree Ketuan Zhan Oct. 29, according to Tencent News.

Bitmain will now undergo questioning by the U.S. securities regulator before - if allowed - submitting an F1, a certification required for foreign companies before listing in U.S. securities markets.

Bitmain's U.S. IPO dreams follow a failed attempt to go public on the Hong Kong Stock Exchange in 2018.

Bitmain declined to comment on the lapsed application at the time.

To increase the firm's chance of a U.S. listing, Bitmain has also hired the former representative of Nasdaq China, Zheng Hua, as a consultant, Tencent News reports.

CoinDesk reached out to Bitmain to confirm the news, but a representative would not comment.

As of the last listing attempt on the HKSE, departed executive Zhan held a 36 percent stake in Bitmain Holdings, the parent company of Beijing Bitmain Technology.

Bitmain's U.S. IPO plans come alongside a notable investment in the region.

Bitmain chairman Jihan Wu image via CoinDesk archives.