{"id":133822,"date":"2024-07-23T20:00:10","date_gmt":"2024-07-23T17:00:10","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=133822"},"modified":"2024-07-23T17:28:46","modified_gmt":"2024-07-23T14:28:46","slug":"swan-bitcoin-suspends-bitcoin-mining-activities","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/swan-bitcoin-suspends-bitcoin-mining-activities\/","title":{"rendered":"Swan Bitcoin Suspends Bitcoin Mining Activities"},"content":{"rendered":"<p>On July 22, the company\u2019s CEO Corey Klipsten said:<\/p>\n<blockquote>\n<p style=\"text-align: left;\"><em>Swan is unlikely to continue with our [Bitcoin] Managed Mining business in the near future.<\/em> <em>With no significant revenue expected in the near future from our Managed Mining unit, we are withdrawing our plans for an IPO in the near future.<\/em><\/p>\n<\/blockquote>\n<p>Klipsten also mentioned that the company is cutting its accelerated spending plan for its core financial services business. Unfortunately, this includes staff cuts in many functions.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/all-of-the-old-cryptos-will-come-to-wall-street-anthony-pompliano\/\" title=\"All of the Old Cryptos Will Come to Wall Street \u2013 Anthony Pompliano\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/cryptocurrency-f6026a2012a14aaa9ef8a1c277fde0f7-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">All of the Old Cryptos Will Come to Wall Street \u2013 Anthony Pompliano<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Swan\u2019s decision is surprising given that in May the company launched a customized <a href=\"https:\/\/cryptodnes.bg\/kripto-valuti\/bitcoin\/\" rel=\"nofollow\"><strong>Bitcoin<\/strong><\/a> mining service (Managed Mining) that has attracted interest from large institutional companies like stablecoin issuer Tether.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">ANNOUNCEMENT \u2013 <a href=\"https:\/\/twitter.com\/Swan?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@Swan<\/a> is unlikely to continue with our Managed Mining business in the near term. Without the expectation of significant near-term revenue from our Managed Mining unit, we are pulling our plans to IPO in the near future.<\/p>\n<p>Accordingly, Swan is pulling back from our\u2026<\/p>\n<p>\u2014 Cory Klippsten \ud83e\udda2 #Bitcoin is for everyone (@coryklippsten) <a href=\"https:\/\/twitter.com\/coryklippsten\/status\/1815429462210539706?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">July 22, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swan Bitcoin, a financial services company specializing in the Bitcoin sector, has announced that it is suspending its mining operations and postponing plans for an initial public offering (IPO).<\/p>\n","protected":false},"author":7,"featured_media":115473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27],"tags":[],"class_list":["post-133822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Swan Bitcoin Suspends Bitcoin Mining Activities<\/title>\n<meta name=\"description\" content=\"Swan Bitcoin, a financial services company specializing in the Bitcoin sector, has announced that it is suspending its mining operations...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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