Bitmain, the world’s largest cryptocurrency mining company, is currently planning an IPO to raise $18 billion from public markets. The figure indicates that the Beijing-based business is worth between $40 billion and $50 billion, making its IPO one of the largest ever. During its most recent funding round, which took place in June 2020, Bitmain seller raised $450 million from stockholders and was valued at $12 billion in private markets. China International Capital Corporation will underwrite the offering. The Hong Kong Stock Exchange is expected to list the company later this year or early next year.
Bitmain: General Overview
Bitmain is a bitcoin mining computer manufacturer that also offers related services. Bitmain was founded by some of the early players in the digital currency industry, and their team includes passionate and well-credentialed developers, financial experts, and Bitcoin enthusiasts.
Bitmain has headquarter in Beijing and Bitmain seller branches in San Francisco, Hong Kong, Chengdu, Tel Aviv and Shenzhen. The company’s hardware division creates and sells bitcoin miners based on ASIC chip technology, allowing users to obtain high-quality, high-density server equipment and large-scale parallel computing applications.
What is Bitmain’s Revenue Model?
The company reported a total of $2.3 billion in earnings in 2016, 2017, and the first quarter of 2018. The company made $1.1 billion in sales in 2017 due to rising costs in cryptocurrency markets. Business analysts are more upbeat about Bitmain’s prospects. It was reported in February of this year that Bitmain is generating earnings of up to $3 billion per year.
Bitmain is a company that is vertically integrated. It manufactures its own chips for mining rigs that are purchased to complete projects. It also makes use of them in cryptocurrency mining farm equipment. Bitmain is a major player in the mining equipment industry. According to some estimates, Bitmain regulates up to 80% of the bitcoin mining equipment sector. For cryptocurrency mining, the company’s Software-ASIC chips are the preferred workhorses.
Bitmain Seller & Bitcoin Mining Pools
In fact, some of Bitmain’s bulletins relating to the creation of ASICs for specific cryptocurrencies are often regarded as signs that the coin’s market cap would increase in the coming months. BTC.com and Antpool, two of the most important bitcoin mining pools, are both owned by the company. These pools account for between 42 percent and 51 percent of the total bitcoin mining capacity.
What Does the Future Hold for Bitmain and Bitmain Seller?
Bitmain’s sales are heavily influenced by cryptocurrency markets. Bitmain’s sales benefited from a rise in cryptocurrency prices in 2017. This is because it resulted in higher demand for its equipment as well as higher income from its mining operations. Bitmain raised the prices of its mining machines during the 2017 crypto market boom. A drop in costs, on the other hand, means less demand for Bitmain’s machines and lower profits from its mining operations.
Thus, Bitmain has broadened its revenue base in this way. In 2018, it announced the Sophon BM1680, a chip that aims to speed up machine learning algorithms. In May 2018 interview with Bloomberg, Wu predicted that AI chips could account for up to 40% of Bitmain’s revenue in five years.
Now, in 2020, Bitmain maintains a place at the center of the crypto-economic system.
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