The largest manufacturer mining equipment Bitmain will submit the listing application on the Hong Kong stock exchange in September. The company plans to raise $3 billion in the IPO, reports Bloomberg, citing informed sources.

The world’s biggest producer of chips cryptocurrency mining is understood to be planning an IPO that could raise $3 billion

— Bloomberg Crypto (@crypto) August 15, 2018

It is noteworthy that Jihan Wu intends to expand the range of activities of the company and to bring it to market artificial intelligence. Note that many members of the cryptocurrency community about these plans with skepticism.

Recall that in CoinDesk saying that Bitmain is going to raise $18 billion, surpassing the IPO of the social network Facebook. In this case, the capitalization of the mining giant can range from $40 billion to $50 billion.

It also became known that the company has built up a serious position on Bitcoin Cash, probably by selling bitcoins. A number of industry experts believe that in the second quarter of 2018 Bitmain suffered huge losses.

I should add that competitors giant Canaan Creative and Ebang can also go for an IPO in Hong Kong.