U.S. Markets closed

Cryptocurrency giant Bitmain reveals profits and IPO plan despite slump in bitcoin

Kate Rooney

Bitmain has about 30 percent of its assets in cryptocurrencies, which have nosedived this year. A closely followed, secretive Chinese bitcoin mining giant revealed a little bit more of itself on Wednesday. After months of speculation about the company's plans, Bitmain released its first-ever public disclosures, confirming its intention to list on the Hong Kong stock exchange.