Bgin Blockchain Shares Plunge 59% Post-IPO Amid Financial Losses
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 30 2025
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Source: Newsfilter
- 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.
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.
