According to the publication CoinDesk, which received access to some information about the application of mining giant Bitmain to conduct an IPO on the Hong Kong stock exchange (HKEx), in the third quarter of last year the company losses amounted to about $500 million.
According to the publication, for the first 9 months of last year, with total revenues of $3 billion Bitmain was able to earn $500 million Since the company publicly stated that in the first half made a profit of $1 billion, taking into account the profit of $500 million for the third quarter have $500 million in losses. In addition, Bitmain also reported in the first half of the year income of $2.8 billion, based on the total amount of revenue for 9 months of the third quarter was $200 million.
Also on the background of the General decline of the stock market in the third quarter to $700 million and decreased the cost of scriptaction Bitmain, which at 30 June amounted to $800 million.
Recall that in November last year, analysts of the Financial Times found that in the IPO-prospectus Bitmain underestimated the financial results of 2017. Thus, the document net income for the past year stated at $701,4 million, but a month before the company called the other numbers – $1.1 billion, and in the early summer in the documents prepared in the framework of the second round of funding of the company – $1.25 billion in February analysts at Bernstein estimated that for 2017 Bitmain made a profit of $3-4 billion.