Chinese mining giant Bitmain only for I quarter of current year made a profit of $1.1 billion reported by Fortune, referring to the source close to the company.

In particular, the source confirms the information that the largest manufacturer of mining equipment preparing for an initial public offering (IPO) in Hong Kong.

After June brought in an additional $400 million cost Bitmain is estimated to be about $14 billion (this is 16.6% more than the previous estimate).

For the first quarter of the current year net profit for Bitmain is $1.1 billion According to conservative forecasts, in annual terms, this figure will reach 2 to 3 billion US dollars.

Last year the company Gihan Wu earned $2.5 billion, which is eight times higher than in 2016.

ForkLog previously reported that Bitmain has plans to complete another round of financing and to attract another $1 billion then the company’s market value could reach $15 billion.