Capitalization of mining giant Bitmain has reached $15 billion. This result has led to the closure of the preliminary round of the initial public offering, Initial Public Offering (IPO) with the involvement of major investors. On 4 August, it was reported by the Chinese edition of QQ News.
Buyers of large parcels of shares have the Chinese company Tencent and Japanese tech giant Softbank, which owns the biggest share of the stock Uber, 15 percent.
Tencent is the company that developed the popular Chinese social network WeChat, which has more than 1 billion users. Chinese network surpassed Facebook by market capitalization on $72 billion in March of this year.
According to the newspaper QQ, Bitmain is planning to launch its IPO on the stock exchange of Hong Kong in September this year and estimates his company at $30 billion.
Note that as of February 2018, Bitmain controls 70-80% of the world market of equipment for mining bitcoins that has brought the company from $3 to $4 billion in operating profits in 2017 — more than the Nvidia, an American manufacturer of graphics processors (GPU).
In late July, Fortune reported that Bitmain has earned about $1 billion in net profit in the first quarter of 2018. In the same month, the company closed $300-400 million in B round of financing that increased its capitalization to $12 billion.
Besides, yesterday it became known about the plans for Bitmain to expand its presence in the U.S. market and the construction of a mining center in Texas, $500 million Company hopes to open the center in early 2019.
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