Vague and Misleading Statements Spotted in Bitmain Investor Deck

Vague statements in Chinese mining giant Bitmain Technologies' investor deck ambiguously and potentially misleadingly list investors ahead of its rumored Initial Public Offering.

In a Bitmain pre-IPO investor deck acquired by Cointelegraph, DST Global is listed as an investor, with claims that the investment is "Recently completed."

While it is possible to dispute the meaning, to the layperson or an uninitiated potential investor, the language would suggest Bitmain has acquired funds from DST Global.

Earlier today, John Lindfors, a managing partner at DST Global, said in an email to Cointelegraph that he "Can confirm that DST has never invested in Bitmain."

Wu said that if an investor used the information that DST Global invested in Bitmain to decide whether to contribute their own funds, it could compel them to ask for a reimbursement.

If Bitmain refused, investors could commence legal proceedings.

Bitmain closed its pre-IPO funding round earlier this month, claiming participation of high-profile investors like Chinese tech conglomerate Tencent and Japan's SoftBank, that owns a 15 percent stake in Uber.

Last week, SoftBank told Cointelegraph that reports of it backing Bitmain's IPO were also false.

Why is Bitmain raising capital so fast & only showing Q1 results to pre-IPO investors? We're well into Q3 now.

Bitmain is sitting on a massive $1.24 billion USD in inventory & S9 prices dropped by ~85%! Q2 losses range in the $600-700 millions.