Cryptocurrency miner Bitmain lets Hong Kong IPO application lapse

Bitmain's application lapsed on Tuesday, six months after it was filed, the Hong Kong stock exchange's website showed."We do recognize that despite the huge potential of the cryptocurrency and blockchain industry, it remains a relatively young industry which is proving its value," the company said on its website."We will restart the listing application work at an appropriate time in the future."Sources had previously told Reuters the company was aiming to raise at least $3 billion in its IPO.