The Hong Kong Stock Exchange is reluctant to approve the IPO applications of Chinese bitcoin mining equipment manufacturers, according to a person involved in the talks. Some crypto miners are looking to Iran for its low-cost power – but the path to setting up shop in the country is anything but simple. Conflux, a scalable blockchain project with a Turing Award-winning co-founder, has raised $35 million from backers including Sequoia and Baidu. Ping An, the Chinese insurance giant that built the eTradeFinance blockchain, is modifying the platform to give its 12 participating banks more control over customer relationships. Between 600,000 and 800,000 bitcoin miners have shut down since mid-November amid declines in price and hashrate across the network, F2pool’s founder estimates.