The largest manufacturer of Bitmain miners are considering holding a record for the industry of the IPO.
Bloomberg reports that the Chinese company, led by Jihan Wu, in the near future is preparing a public offering of shares (IPO). Looks like Bitmain itself is gradually becoming more public: Jihan Wu began giving interviews. So, he told Bloomberg that last year it made $2.5 billion, although industry analysts believe that this figure is higher.
According to some estimates, Bitmain controls about 80% of the market specialised ASIC chips that are designed for specific algorithms, hashing, replacing the video card for General use.
The company Canaan Creative, which is approximately 15% of the market ASIC, has recently applied for an IPO in Hong Kong with a goal to raise $1 billion.
According to Wu, his company is worth $12 billion, and other estimates the figure is $8.8 billion. it Should be noted that in 2017 income Bitmain were 12 times higher than that of Canaan, perhaps confirming the estimate Wu of the company.
There is no doubt that Bitmain is one of the most important players in the ecosystem of cryptocurrencies and investors are not stingy with the purchase of its shares.
According to the publication CCN, Bitmain is also gradually extending the range of products, striving to make your business more global. In particular, the company wants to use the experience of ASIC development, to occupy the market share of artificial intelligence (AI) in China.
The development of AI for Bitmain is not just a hedge against the decline of the cryptocurrency market. Unlike mining, the government of China approves this area, favoring internal projects and not allowing the market to Western giants such as Google.