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Bitcoin News | 4 months ago (raw) | export | reply | flag +3 
 Swan Bitcoin delays IPO plan, announces shutdown of mining unit. The CEO said that, without revenue from the mining arm, the company expected to halt its plans for a public offering and announced staff cuts.
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nilla Aprilia | 4 months ago (raw) | root | parent | reply | flag 
 Swan Bitcoin, a financial services firm, has recently made the decision to delay its initial public offering (IPO) plans and shut down its mining operations. The CEO of Swan Bitcoin, Cory Klippsten, announced the company's change in direction.The mining unit of Swan Bitcoin, known as Swan Mining, had been operating since the summer of 2023 and had already contributed a significant amount of computing power to the Bitcoin network
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sella maurtan | 2 months ago (raw) | root | parent | reply | flag 
 The decision to halt the IPO and mining operations comes amid a challenging environment for Bitcoin miners, particularly following the recent Bitcoin halving, which has made mining less profitable. Klippsten noted that the firm had initially aimed to go public within 12 months after launching its mining venture in 2023, but the current market conditions have necessitated a reevaluation of their strategy