Asia Blockchain Updates 2019.11.01 changed the name into Bithumb Korea, Bitmain’s US IPO, Sichuan province of China- the paradise of Crypto Miners?

by Amy Kang changes its Company Name, Bithumb Korea

BTC, the operator of Bithumb, the largest cryptocurrency exchange in Korea, will change its name to ‘Bithumb Korea’.

As has been considering expanding its business services to the global market, they have changed their current corporate name, BTC into Bithumb, which has a high reputation in the blockchain and crypto industry.

Founded in early 2014, Bithumb Korea was ranked no.1 in Korea Bitcoin trading volume in the first year of its founding, and in 2017, it emerged as the world’s no.1 cryptocurrency exchange based on the transaction value. Afterward, it opened the largest customer center in the industry and introduced the first cryptocurrency payment system.

In addition, since last year, the company has contributed to the growth of related industries by expanding investment in blockchain companies, including the development of securities token platforms. Recently, the company has been leading the way in securing transparency by establishing an AML center for the first time.

Bitmain, Filed an IPO on the US SEC in Secret

According to the Tencent News on Oct 31st, Bitcoin miner, Bitmain has secretly filed for a US IPO secretly.

Reportedly, Bitmain filed for an IPO with the US SEC earlier this week with the support of Deutsche Bank. The application was filed before the Bitmain Board of Directors dismissed the position of co-founder and chief executive officer, Mr. Micree Zhan and reinstated another co-founder, Ujihan.

After reviewing the application, the SEC may request additional material if there is a failure to meet the requirements. After passing the preliminary examination, Bitmain can formally submit an F1 application. An F1 application is a certification that a foreign company must obtain to be listed on the US stock market.

The specific scale of the IPO has not been disclosed yet.

Sichuan of China, will be the Next Blockchain, Crypto Mining Hub?

Sichuan Province in China has attracted attention after Xi Jinping’s comment on blockchain technology.

As Bitcoin mining requires a lot of energy and high-powered computers, Sichuan Province, which has cheap and abundant hydro resources and the largest hydropower district got attraction from all around the world.

Hong Kong’s South China Morning Post (SCMP) reported on November 1st that the Sichuan province, the home of pandas, is attracting cryptocurrency miners who need electricity based on cheap and abundant hydroelectric power.

Officials in Sichuan are also paying attention to Xi’s comments, and some experts say Sichuan can play an important role in driving blockchain technology.



Product designer, turning conceptual ideas into reality with logic and feelings for us, Based in the UK

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store