The company announced that it would go public soon; however, the date of this listing has not been yet finalized.
Citing a source familiar with the company, Term Sheet received a list of latest financials winning of Bitmain’s planned IPO.
After securing eye-popping gains around $400M in early June, the mining giant, Bitmain is mulling its strikes to receive further earnings in addition to that marvelous upswing.
A recent market cap report disclosed that the Bitmain received again in the market valuation of around $12 billion. The new funding led the Bitmain valuation to experience smashing earnings of approximately $14 billion- 16 percent increase from its previous gains.
During the first quarter of 2018, Bitmain received a rise in the net profit of around $1.1 billion, while analysts expect that firm would reach $2 to $3 billion marks in the coming year.
Last year, industry giant Bitmain ranked $1.2 billion in profit acquiring 50 percent net margin gain.
In an interview with Fortune, Jihan Wu, co-CEO, and co-founder at Bitmain discussed the strategic and controversy theories that have circulated his firm. Also, announced their plans to issue new regulatory policies to receive a groundbreaking increase in the company’s funding.
Image courtesy of Pixabay.
You might also like
More from Bitcoin News
After a prolonged time of low prices and bear markets, Bitcoin recently breached $8000 signaling an end to the crypto …
According to an announcement published on May 28, The owner and operator of cryptocurrency exchange BitMEX has donated to the …
An ongoing report titled "The Compendium of Cryptocurrency Remittances," focussed on a few digital currencies just as their particular suitability …