Recently, Cory Klippsten, CEO of Swan Bitcoin, shed light on the reasons behind the company's decision to pause its Initial Public Offering (IPO) plan and conduct significant layoffs. He stated that this decision was due to disagreements with key capital partners in the hosting mining business, making it difficult to achieve expected cash flows in the short term. Previously, the company had increased marketing expenses and planned to expand its workforce before submitting an IPO filing to the SEC for approval. However, with uncertainty in its spending strategy and a break in the funding chain, Swan Bitcoin had to reassess its financial strategy. As a result, it reduced its marketing activities and staffing. Prior to this, Swan Bitcoin announced its intention to abandon its public listing plans, shut down its managed mining division, and carry out global layoffs.