Bitmax, a privately owned company based in the United States, was founded in 1998. With approximately 80 employees, the company reported $10.5M in revenue as of 2024. Bitmax specializes in media managed services, licensing and distributing premium VOD, SVOD, AVOD, and TVOD content.
AscendEX, an exchange formerly known as Bitmax, officially confirmed on July 6 that it would cease operations, with all business terminating on July 1, 2026. The platform cited the full effect of the EU's Markets in Crypto-Assets Regulation (MiCA) alongside market, financial, and operational influences for its decision. This follows blockchain investigator ZachXBT's July 2 alert regarding AscendEX, warning that user withdrawals remained frozen while deposits continued to be accepted, a combination he noted had historically preceded significant exchange collapses. Earlier, on June 26, reports emerged of withdrawal delays and unprocessable withdrawals at AscendEX (formerly Bitmax), affecting multiple users. Separately, on March 19, South Korean digital asset trust (DAT) company Bitmax firmly denied market rumors of selling any portion of its Bitcoin holdings. This statement clarified that the transfer of its entire Bitcoin reserve to overseas exchanges, such as Binance and Bybit, was for enhanced security rather than an asset sale, following a local media report that suggested the firm had moved assets before executing a 4-for-1 capital reduction without compensation. PANews previously reported this denial on March 19, detailing the transfers from a cold wallet operated by South Korea's largest bank.
Bitmax offers 3 products in the media tech industry. Bitmax's product portfolio comprises of media managed services.
Subscribe for full access to Bitmax's products in full detail
Bitmax's revenues were less than $25M in 2024. Caretta Research has split Bitmax's revenue into 3 different product categories, the largest of which is vOD and cinema mastering. For full access to Bitmax's revenue breakdown subscribe to Caretta Portal.
Subscribe for full access to Bitmax's revenue in full detail
Subscribe for full access to Bitmax's products in full detail 
