As the site Touchweb, the Chinese giant in the field of production of equipment for mining Bitmain announced a new round of funding ahead of IPO. In the recently completed series B, led by Sequoia Capital, the company managed to raise $300-400 million.

According to the Chinese edition, a new round of $1 billion will be completed by the end of this month and will increase the company’s value to $15 billion. Touchweb adds that Bitmain is ready to hold an IPO in Hong Kong in August will give the Hong Kong stock exchange (HKSE) application for the official launch of trading at the end of 2018.

Company Bitmain is the world’s largest manufacturer of equipment for mining. The company’s share in the total volume of the market in three to five times the share of its largest competitor Canaan. The share of the mining pools, Bitmain account for approximately 50% of the total computing power of bitcoin, and it has all chances to continue to dominate the market ASIC miners.

Among the leading investors in the recently completed round of raising capital — Sequoia Capital Chain, American hedge Fund Coatue and the Singapore state investment Fund EDBI. In addition, at the end of September Bitmain raised $50 million in a series A, having received the funds from Sequoia Capital China and IDG Capital.

The founder of Bitmain Jihan Wu said that in 2017, the company received a profit of $2.5 billion, which is eight times the profit of 2016. Its net income in 2017 is 15 times the corresponding figure in 2016. Bitmain Profit in the first quarter of 2018, is already close to profitability for the whole of 2017. Gross profit of the company reaches 60%.

In may, Jihan Wu did not rule out the possibility of carrying out IPO. Some Chinese media reported in early summer that Bitmain are ready to apply for admission to trading on the HKSE.