BGIN BLOCKCHAIN Appoints MaloneBailey as Independent Auditor
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 15 2025
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Should l Buy BGIN?
BGIN BLOCKCHAIN announced the appointment of MaloneBailey as the Company's independent registered public accounting firm, effective December 12, 2025, replacing ZH CPA, LLC. The decision to engage MaloneBailey follows a comprehensive evaluation process and was approved by the Audit Committee and the Board of Directors of the Company. MaloneBailey brings extensive experience in auditing companies within the cryptocurrency sector, positioning the firm well to support BGIN's ongoing operations and long-term growth objectives in this dynamic industry.
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Analyst Views on BGIN
About BGIN
Bgin Blockchain Ltd, through its operating subsidiaries, is a digital asset technology company. The Company is principally engaged in a cryptocurrency mining business through its operating subsidiary located in Hong Kong. Its segments include Cryptocurrency mining and Sale of mining machines. Its subsidiaries design and sell mining machines equipped with its proprietary 8nm or 12nm ASIC chips under different series dedicated to the mining of KAS coins, ALPH coins, and RXD coins. These machines are available for purchase only through its Website, iceriver.io. ICERIVER is a mining machine manufacturer which is engaged in developing efficient mining machines for all types of miners, from beginners to industrial scale. It offers miners comprehensive hosting services to maximize mining performance. The Company takes care of complex tasks, such as machine management, electricity billing, and ongoing maintenance, allowing you to focus on optimizing mining activities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Bgin Blockchain Limited Under Investigation Amid $96M Revenue Decline
- Significant Revenue Decline: Bgin Blockchain Limited's unaudited financial results for the first half of 2025 reveal a revenue drop of approximately $96 million compared to the previous year, indicating a substantial loss of market competitiveness that could undermine investor confidence.
- Soaring Operating Costs: The company's operating expenses surged by 582.8% year-over-year, resulting in a shift from a gross profit of $84.8 million to a gross loss of $6.3 million, highlighting significant management failures in cost control that may provoke shareholder dissatisfaction and legal actions.
- Executive Turnover: On December 5, 2025, Bgin announced the amicable termination of its Chief Communications Officer, reflecting instability in the company's internal management that could adversely affect its image and strategic direction moving forward.
- Auditor Change: On December 15, 2025, Bgin resolved not to renew its current auditor's contract and approved the engagement of a new independent registered public accounting firm, indicating a significant shift in the company's approach to financial transparency and compliance, which may impact investor trust in corporate governance.
See More
BGIN Blockchain Directors Increase Shareholding, Signaling Long-Term Confidence
- Share Acquisition: BGIN's Chairman Oisin Li purchased 60,000 Class A ordinary shares at an average price of $3.70 per share, while independent director Paul Tsang acquired 8,100 shares at $2.85 each, demonstrating their confidence in the company's long-term prospects.
- Strategic Direction: Oisin Li stated that his decision to increase his stake aligns with his strong belief in BGIN's future direction, emphasizing the company's active strategy to become an infrastructure player within the Bitcoin ecosystem, which highlights its market potential.
- Market Opportunities: BGIN focuses on developing innovative cryptocurrency mining products tailored to diverse market needs, from beginners to large-scale industrial miners, further solidifying its position in the digital asset technology sector.
- Long-Term Vision: The directors' share purchases not only reflect their recognition of the gap between current stock prices and future value but also send a positive signal to investors, potentially enhancing market trust and attractiveness towards BGIN.
See More
Glancy Prongay & Murray Investigates Bgin Blockchain's Post-IPO Financial Decline
- Deteriorating Financial Condition: Bgin Blockchain's financial report for the six months ended June 30, 2025, revealed a revenue decline of approximately $96 million year-over-year, alongside a staggering 582.8% increase in operating expenses, indicating severe financial distress that could hinder future fundraising efforts.
- Gross Loss: The company reported a gross profit of $84.8 million in the prior year, which plummeted to a gross loss of $6.3 million in 2025, reflecting a dramatic decline in profitability that may erode investor confidence.
- Executive Changes: On December 5, 2025, Bgin amicably terminated its Chief Communications Officer, and on December 15, it opted not to renew its current auditor, instead engaging a new independent registered public accounting firm, which could impact corporate governance and transparency.
- Stock Price Plunge: As of December 29, 2025, Bgin's shares traded as low as $2.45, a 59% drop from the IPO price of $6.00, indicating a pessimistic market outlook on its future prospects and potentially prompting more investors to seek legal recourse.
See More
Bgin Blockchain Shares Plunge 59% Post-IPO Amid Financial Losses
- Post-IPO Financial Crisis: Bgin Blockchain completed its IPO on October 21, 2025, yet reported a staggering revenue decline of approximately $96 million in its six-month financial results ending June 30, 2025, alongside a 582.8% increase in operating expenses, resulting in a gross loss of $6.3 million compared to a gross profit of $84.8 million the previous year, indicating severe financial distress.
- Executive Changes: On December 5, 2025, Bgin announced the amicable termination of its Chief Communications Officer, suggesting potential internal management issues that could further undermine investor confidence in the company's stability.
- Auditor Transition: On December 15, 2025, Bgin disclosed its decision not to renew its current auditor's contract and approved the engagement of a new independent registered public accounting firm, highlighting an urgent need for improved financial transparency and compliance, which may affect future investor trust.
- Stock Price Plunge: As of December 29, 2025, Bgin's shares traded as low as $2.45, marking a decline of $3.55 or 59% from the IPO price of $6.00, reflecting market pessimism regarding the company's future prospects and potentially prompting more investors to seek legal recourse to recover losses.
See More
Bgin Blockchain Faces Investigation After 59% Stock Drop Post-IPO
- Financial Crisis: Bgin Blockchain's financial report for the six months ending June 30, 2025, revealed a revenue decline of approximately $96 million compared to the previous year, with operating expenses soaring by 582.8%, resulting in a gross loss of $6.3 million, which severely impacts the company's financial stability.
- Executive Changes: On December 5, 2025, Bgin announced the amicable termination of its Chief Communications Officer, indicating potential internal management issues that could exacerbate investor concerns regarding corporate governance.
- Auditor Change: On December 15, 2025, Bgin decided not to renew its current auditor's contract and approved the engagement of a new independent registered public accounting firm, reflecting significant adjustments in financial transparency and compliance that may affect investor confidence.
- Stock Price Plunge: As of December 29, 2025, Bgin's shares traded as low as $2.45, a 59% drop from the IPO price of $6.00, which not only reflects market pessimism about the company's future but may also lead to more investors seeking legal recourse for their losses.
See More
BGIN Blockchain Limited Highlights the ICERIVER® ALEO AE3 Mining Device
Product Launch: BGIN Blockchain Limited has announced the operational readiness of its first industrial-grade mining hardware, the ICERIVER ALEO AE3 miner, designed for the ALEO network, focusing on high computational power and energy efficiency.
Technical Specifications: The ALEO AE3 miner features a hashrate of 2 GH/s, power consumption of 3400W, and an energy efficiency rating of 1.70 J/M, making it suitable for professional miners seeking reliability and scalability.
Availability and Pricing: The ICERIVER ALEO AE3 is available for pre-order at $5,999 per unit, with shipping starting the week of November 10, 2025, allowing for quick integration into mining operations.
Company Overview: BGIN Blockchain Limited specializes in cryptocurrency mining technologies and aims to make crypto mining accessible to all, offering innovative products tailored for various market needs, from beginners to large-scale industrial miners.
See More
Bgin Blockchain Limited Under Investigation Amid $96M Revenue Decline
- Significant Revenue Decline: Bgin Blockchain Limited's unaudited financial results for the first half of 2025 reveal a revenue drop of approximately $96 million compared to the previous year, indicating a substantial loss of market competitiveness that could undermine investor confidence.
- Soaring Operating Costs: The company's operating expenses surged by 582.8% year-over-year, resulting in a shift from a gross profit of $84.8 million to a gross loss of $6.3 million, highlighting significant management failures in cost control that may provoke shareholder dissatisfaction and legal actions.
- Executive Turnover: On December 5, 2025, Bgin announced the amicable termination of its Chief Communications Officer, reflecting instability in the company's internal management that could adversely affect its image and strategic direction moving forward.
- Auditor Change: On December 15, 2025, Bgin resolved not to renew its current auditor's contract and approved the engagement of a new independent registered public accounting firm, indicating a significant shift in the company's approach to financial transparency and compliance, which may impact investor trust in corporate governance.
See More
BGIN Blockchain Directors Increase Shareholding, Signaling Long-Term Confidence
- Share Acquisition: BGIN's Chairman Oisin Li purchased 60,000 Class A ordinary shares at an average price of $3.70 per share, while independent director Paul Tsang acquired 8,100 shares at $2.85 each, demonstrating their confidence in the company's long-term prospects.
- Strategic Direction: Oisin Li stated that his decision to increase his stake aligns with his strong belief in BGIN's future direction, emphasizing the company's active strategy to become an infrastructure player within the Bitcoin ecosystem, which highlights its market potential.
- Market Opportunities: BGIN focuses on developing innovative cryptocurrency mining products tailored to diverse market needs, from beginners to large-scale industrial miners, further solidifying its position in the digital asset technology sector.
- Long-Term Vision: The directors' share purchases not only reflect their recognition of the gap between current stock prices and future value but also send a positive signal to investors, potentially enhancing market trust and attractiveness towards BGIN.
See More
Glancy Prongay & Murray Investigates Bgin Blockchain's Post-IPO Financial Decline
- Deteriorating Financial Condition: Bgin Blockchain's financial report for the six months ended June 30, 2025, revealed a revenue decline of approximately $96 million year-over-year, alongside a staggering 582.8% increase in operating expenses, indicating severe financial distress that could hinder future fundraising efforts.
- Gross Loss: The company reported a gross profit of $84.8 million in the prior year, which plummeted to a gross loss of $6.3 million in 2025, reflecting a dramatic decline in profitability that may erode investor confidence.
- Executive Changes: On December 5, 2025, Bgin amicably terminated its Chief Communications Officer, and on December 15, it opted not to renew its current auditor, instead engaging a new independent registered public accounting firm, which could impact corporate governance and transparency.
- Stock Price Plunge: As of December 29, 2025, Bgin's shares traded as low as $2.45, a 59% drop from the IPO price of $6.00, indicating a pessimistic market outlook on its future prospects and potentially prompting more investors to seek legal recourse.
See More
Bgin Blockchain Shares Plunge 59% Post-IPO Amid Financial Losses
- Post-IPO Financial Crisis: Bgin Blockchain completed its IPO on October 21, 2025, yet reported a staggering revenue decline of approximately $96 million in its six-month financial results ending June 30, 2025, alongside a 582.8% increase in operating expenses, resulting in a gross loss of $6.3 million compared to a gross profit of $84.8 million the previous year, indicating severe financial distress.
- Executive Changes: On December 5, 2025, Bgin announced the amicable termination of its Chief Communications Officer, suggesting potential internal management issues that could further undermine investor confidence in the company's stability.
- Auditor Transition: On December 15, 2025, Bgin disclosed its decision not to renew its current auditor's contract and approved the engagement of a new independent registered public accounting firm, highlighting an urgent need for improved financial transparency and compliance, which may affect future investor trust.
- Stock Price Plunge: As of December 29, 2025, Bgin's shares traded as low as $2.45, marking a decline of $3.55 or 59% from the IPO price of $6.00, reflecting market pessimism regarding the company's future prospects and potentially prompting more investors to seek legal recourse to recover losses.
See More
Bgin Blockchain Faces Investigation After 59% Stock Drop Post-IPO
- Financial Crisis: Bgin Blockchain's financial report for the six months ending June 30, 2025, revealed a revenue decline of approximately $96 million compared to the previous year, with operating expenses soaring by 582.8%, resulting in a gross loss of $6.3 million, which severely impacts the company's financial stability.
- Executive Changes: On December 5, 2025, Bgin announced the amicable termination of its Chief Communications Officer, indicating potential internal management issues that could exacerbate investor concerns regarding corporate governance.
- Auditor Change: On December 15, 2025, Bgin decided not to renew its current auditor's contract and approved the engagement of a new independent registered public accounting firm, reflecting significant adjustments in financial transparency and compliance that may affect investor confidence.
- Stock Price Plunge: As of December 29, 2025, Bgin's shares traded as low as $2.45, a 59% drop from the IPO price of $6.00, which not only reflects market pessimism about the company's future but may also lead to more investors seeking legal recourse for their losses.
See More
BGIN Blockchain Limited Highlights the ICERIVER® ALEO AE3 Mining Device
Product Launch: BGIN Blockchain Limited has announced the operational readiness of its first industrial-grade mining hardware, the ICERIVER ALEO AE3 miner, designed for the ALEO network, focusing on high computational power and energy efficiency.
Technical Specifications: The ALEO AE3 miner features a hashrate of 2 GH/s, power consumption of 3400W, and an energy efficiency rating of 1.70 J/M, making it suitable for professional miners seeking reliability and scalability.
Availability and Pricing: The ICERIVER ALEO AE3 is available for pre-order at $5,999 per unit, with shipping starting the week of November 10, 2025, allowing for quick integration into mining operations.
Company Overview: BGIN Blockchain Limited specializes in cryptocurrency mining technologies and aims to make crypto mining accessible to all, offering innovative products tailored for various market needs, from beginners to large-scale industrial miners.
See More
