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Bitmain and Ebang's Hong Kong IPO dreams in question

Likelihood of listings fades as rival Chinese bitcoin miner Canaan's application lapses

Bitmain, Canaan and Ebang together accounted for 87.1% of global mining system revenues last year   © Reuters

HONG KONG -- China's Bitmain Technologies Holding and Ebang International Holding, the two largest bitcoin mining equipment makers in the world, are widely expected to follow peers in delaying planned floats on the Hong Kong stock market, analysts warn, as regulatory headwinds and market volatility have disrupted plans by crypto-related companies to sell shares.

Canaan, another leading Chinese bitcoin mining equipment maker, let its application for an initial public offering lapse on Thursday, when the company's filing -- first submitted in May -- surpassed its six-month lifespan, according to the Hong Kong Stock Exchange.

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