Bitmain revealed the financial results in the application for IPO


Bitmain revealed the financial results in the application for IPO

About what so long spoke, has come true is the leading manufacturer of mining equipment, Bitmain has submitted a formal application for the IPO on the Hong Kong stock exchange.

The amount, which can be evaluated by the company’s stock, remains a mystery. In comparison with the preliminary information in the application not corrected or clarified a number of details, in particular, the number of shares to be placed, and a timeframe for placement.

According to the prospectus offering of shares and revenue Bitmain for 2017 is $2.5 billion, in 2016 — $277,6 million Revenue for the first half of 2018 amounted to $2,84 billion in gross profit last year was $1.2 billion, in 2016 — 151,3 million for the first half year — $1 billion.

The company claims that it paid taken in 2016, loan of $144 million in 2017, and that as of the end of the first half of 2018 had no significant borrowings.

In July 2018 Bitmain took in a Chinese Bank loan of $49 million for the purchase of office property in Beijing.

The value of the assets of the company by the end of the first half year is estimated at $3.16 billion, including assets in cryptocurrency, $886,9 million

Recall that before this document Bitmain did not indulge the public with data about the financial performance of its activities, therefore in the market regularly were the most contradictory data about the financial condition of the company.

In particular, it was reported that the largest manufacturer of miners lost $328 million on the investment in a Bitcoin Cash.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.