Bitmain completes employee stock option contract signing, and is getting closer to listing in the United States

Interface News reporters exclusively learned from multiple sources that Bitmain completed a large-scale round of employee option contract signings at the end of June.

"Previously, only those who joined Bitmain before October 2015 and some core mining machine development employees had options. This time, only those who were still in the company and had a certain level of management at the beginning of 2018 have options. Almost all employees have shares." A person close to Bitmain's core team told Interface News that this move was in preparation for its listing in the United States.

Interface News was unable to contact Bitmain for comment.

Earlier, according to Bloomberg, Bitmain has resumed its IPO plan and plans to submit listing documents to the U.S. Securities and Exchange Commission as early as next month. However, the plan is still in its early stages and may change in the future.

Last year, Bitmain submitted a prospectus to the Hong Kong Stock Exchange, intending to list on the Hong Kong stock market, but the plan subsequently failed. Last year, the price of Bitcoin fell by 60%, and the mining machines linked to the price of Bitcoin were unsalable, causing Bitmain to suffer heavy losses, which was one of the reasons for the failure of the listing plan.

In the first half of this year, as the price of Bitcoin entered an upward channel, Bitmain's revenue situation began to improve again. The above-mentioned person revealed that Bitmain's revenue in the first half of this year has made up for last year's losses.

The insider also revealed that this round of listing plan is led by Bitmain’s chairman Zhan Ketuan, and Wu Jihan is no longer involved in Bitmain’s management decisions.

"Due to strong differences on whether to develop AI chip business, Wu Jihan and Zhan Ketuan have parted ways peacefully. Now Bitmain's business is fully managed by Zhan Ketuan. Although Wu Jihan is a director, he no longer has voting rights on the board of directors." The person said.

It is understood that Wu Jihan and some core personnel have established a new company, which mainly focuses on blockchain-related businesses, including digital currency exchanges, mining pools, etc. Bitmain has invested in Wu Jihan's new company.

This article comes from: Jiemian News, original link: Bitmain completes employee stock option contract signing, and is getting closer to listing in the United States

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