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It was founded by Micree Zhan and Jihan Wu in 2013. Ahead of founding Bitmain, Zhan was running DivaIP, a startup that allowed buyers to stream tv to a computer screen by way of a established-leading box, and Wu was a economic analyst and personal equity fund manager.[1]
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On 26 March 2019, Bitmain's software for a Hong Kong initial public supplying lapsed, six months soon after it was filed, as investors were reportedly worried about the autumn in bitcoin's price.
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Bitmain's makes an attempt at Preliminary public providing are a fascinating circumstance study within the difficulties of likely community within a volatile market place. In June 2018, Wu advised Bloomberg that Bitmain was thinking of an IPO.
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Bitmain will utilize a dual course share framework, which suggests the share held by firm's founders would rely as ten votes. This composition can provide founders a lot more control about the corporate.
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Bitmain, the biggest mining components maker by sales, commenced US manufacturing in December 2024. Canaan adopted in early 2025, launching pilot manufacturing traces in response to volatile tariff guidelines.
This wave of Chinese firms relocating operations into the US is about greater than tariffs; it signifies a strategic realignment pushed by financial, technological, and geopolitical forces.
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