J Capital Research

Be warned. We are activists. We are biased.
We do our best to find and present facts, based on extensive primary research and using public sources.
​But we will profit if these stocks decline or, when we are long, rise in value.
We do not offer advice on how anyone else should trade a stock. We present our views.

Independent Insight Provider

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