According to Foresight News, Protos reported that Swan Bitcoin has canceled its initial public offering (IPO) plans and shut down its Bitcoin mining division. The company's CEO, Cory Klippsten, explained that a recent disagreement with a major capital partner has led to the decision to halt the IPO process. Additionally, the company no longer expects to generate significant short-term cash flow from its mining operations. Despite the layoffs, Klippsten emphasized that Swan Vault and Swan Force continue to operate.