Bitmain have not updated the application for the IPO following the expiration of six months from the date of submission of documents and abandoned IPO on the Hong Kong stock exchange (HKEX).

In the registry of the exchange application Bitmain is “invalid,” the company confirmed this fact in the blog.

In a statement Bitmain acknowledged that “despite the huge potential the industry of cryptocurrencies and blockchains, it remains a relatively young industry, which proves its value”. The company intends to renew in the future the listing process, because it will make it “more transparent and standardized”.

Bitmain confirmed the appointment of a new CEO, what media reported in January. Wu Jihan (Jihan Wu) and Mikri Jann (Zhan Micree) continue to implement strategic guidance, the report said.

The company also confirmed conducted business restructuring and downsizing. According to the statement, the process of rationalization and optimization done business with Bitmain more focused on the things that are key to its goals.

“We have established a distinct business unit for hardware mining, artificial intelligence, bitcoin mining farms and mining pools. At the same time, we integrated line of resources for designing chips, hardware and software to provide more effective support for our key business areas and highlight the excellent resources for our major and key projects,” said Bitmain.

We will remind that earlier did not update the application on the HKEX IPO, another Chinese mining company — Canaan Creative. It was reported that the firm is considering placing shares on the new York stock exchange. Another Chinese manufacturer of equipment for mining — Ebang Communication in December has updated the application for IPO in Hong Kong.