J Capital Research

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J Capital Research, a U.S. company, publishes highly diligenced research reports on publicly traded companies, relying on deep, on-the-ground primary research. J Capital has particular expertise in the Chinese market, but we look at over-valued companies throughout the world. As an activist short- and long-research shop, when we form a clear view, we publish free, public reports to inform the investing public and never disguise our identity. We believe the internet has afforded an opportunity to small, unaffiliated investors to leapfrog the big banks, with their conflicts of interest, and obtain unbiased information on traded companies. We pride ourselves on our independence and the quality of our work. We hope the work speaks for itself.

Equity Bottom-Up

Bitmain Technologies Ltd / Equity Bottom-Up

<ul>
<li>Bitmain is taking control of listed proxy firms in the United States. That could mean that the mining results of some proxies are overstated, and investors should avoid those companies.</li>
<li>It would be easy for Bitmain, the Chinese chip designer with about 80% of the global market for Bitcoin mining gear and significant mining operations of its own,¹ to report the same mining results for more than one company.</li>
<li>Many of these proxies pay Bitmain to mine on their behalf. Since Bitmain remains private, it has no responsibility to report related-party transactions.</li>
</ul>


Bitmain is taking control of listed proxy firms in the United States. That could mean that the mining results of some proxies are overstated, and investors should avoid those companies.
It would be easy for Bitmain, the Chinese chip designer with about 80% of the global market for Bitcoin mining gear and significant mining operations of its own,¹ to report the same mining results for more than one company.
Many of these proxies pay Bitmain to mine on their behalf. Since Bitmain remains private, it has no responsibility to report related-party transactions.


The Equity Dispatch #47: Bitmain’s Quest for a Backdoor Listing: CANG and More

Singapore

BitFuFu Inc. operates as a digital asset mining service company. The Company makes available a variety of stable and intelligent digital asset mining solutions, including one-stop cloud-mining and miner hosting services to institutional customers and individual digital asset enthusiasts.

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BitFuFu (FUFU US)

The Equity Dispatch #47: Bitmain’s Quest for a Backdoor Listing: CANG and More

Bitmain is taking control of listed proxy firms in the United States. That could mean that the mining results of some proxies are overstated, and...

J Capital Research

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