Connect with us

News

Bitmain investors can file a class action lawsuit against

One of the most vehement critics of the mining giant Bitmain on Twitter, user BTCKING555, said that a number of investors are preparing a class action lawsuit against the company in Hong Kong jurisdiction with the goal of recovering their investments after the expiration of the IPO bid. 3 / already in august I warned many investors. Those that didn’t listen, good luck […]

Published

on

One of the most vehement critics of the mining giant Bitmain on Twitter, user BTCKING555, said that a number of investors are preparing a class action lawsuit against the company in Hong Kong jurisdiction with the goal of recovering their investments after the expiration of the IPO bid.

He also claims that last summer Bitmain managed to raise $ 700 million, and that it alone saved the company from bankruptcy. Nevertheless, investors hoped that with the release of an IPO, the value of their share would increase significantly, which has not happened yet.

At the moment, according to Blockstream’s chief strategic officer Samson Mou, Bitmain is in debt to contractors and suppliers, and sells Antminer S15 devices at a loss to cover at least part of the costs. Moreover, the new 7-nanometer chip is allegedly not viable.

Recall Jihan Wu left the post of CEO, but left behind a chair on the board of directors. The company promises to re-apply for an IPO in the future.

Subscribe to BlockchainJournal on Facebook !

<< aside id = "unisender_subscribe_form-10" class = "widget unisender_form">

BlockchainJournal.news

BlockchainJournal.news

  • bitcoinBitcoin (BTC) $ 18,945.37
  • ethereumEthereum (ETH) $ 1,019.11
  • cardanoCardano (ADA) $ 0.444695
  • polkadotPolkadot (DOT) $ 6.78
  • litecoinLitecoin (LTC) $ 51.33
  • chainlinkChainlink (LINK) $ 6.04
  • stellarStellar (XLM) $ 0.107707
  • bitcoin-cashBitcoin Cash (BCH) $ 100.04