Hidden Liabilities in the Bitmain IPO
14 July 2025
Analysts warn that the prospectus conceals a concentrated exposure to Bitcoin Cash. Bitmain retains close to one million BCH. A forced liquidation at current prices would crystallise a loss that exceeds half a billion US dollars. Samson Mow, Blockstream Chief Strategy Officer, circulated a chart on 11 August 2018. The chart traces Bitmain's BTC balance […]