Bitmain Technologies Ltd., is a privately owned company headquartered in Beijing, China, that designs application-specific integrated circuit (ASIC) chips for bitcoin mining.

Prior to founding Bitmain, Zhan was running DivaIP, a startup that allowed users to stream television to a computer screen via a set-top box, and Wu was a financial analyst and private equity fund manager.

"[12] In June 2021, suspended spot delivery of sales of machines globally aiming to support local prices following Beijing's crackdown.

[14] The company completed its $1 billion pre-IPO registration with the Hong Kong Stock Exchange in August,[15][16] and filed for IPO in September.

[6][2] Bitmain Technologies filed for IPO on 26 September 2018 with the Hong Kong regulatory agency and released their first public financial statement at a time where bitcoin prices had dropped 65% from December 2017.

[18] On 26 March 2019, Bitmain's application for a Hong Kong initial public offering lapsed, six months after it was filed, as investors were reportedly concerned about the fall in bitcoin's value.

Bitmain also announced that Haichao Wang would serve as its new CEO, while co-founders Micree Zhan and Jihan Wu will continue as directors.

The mining giant's claim ultimately failed and was discontinued after Bitmain suffered a series of interlocutory defeats (where its earlier default judgment was overturned and was even ordered to pay security for costs).

[27] In January 2025, the United States Department of Commerce placed a Bitmain subsidiary, Sophgo, on its Entity List following reports that a TSMC-made chip was illegally incorporated into a Huawei artificial intelligence processor.