Avalon is bought out by Shandong Luyitong for $466 mil. Not bad!
I wonder if Bitmain stays private or will seek an IPO or sale.
EDIT: the price is weird (too high); we probably don't have enough info.
Is it a "strategic purchase"? Maybe Avalon had a stash of btc?
This is easily 10-20Xsales or even more.
Also add AMT/Bitmine.ch to the Failed list.
Assuming the Founders/major stake holders in Bitmaintech do not wish to cashout of the business (yet) then they should be staying as a privately held company.
As soon as a business goes Public they must then conform to the Public investors wishes which all too often results in hostile buyout offers by companies that only want to strip and selloff the IP from their target.
IMHO it could well be that since Canaan Creative chose to be late to the 16/14nm node they (major stakeholders) decided to take the money and retire to a nice private island somewhere. As long as their IP does now belong to an "Angel" company with it's eye on the miner market, then cool.
Even cooler would be if Avalon has low-node designs in the works but never put to silicon. With the new ownership it opens the door to them maybe using Global Foundries and go 14nm. Nice safe location (upstate NY) and as far as I know, GF is open to all customers.
