Bitmain faced a decline in its 2018 profit margins. However, the company has launched new mining chips in a move expected to put the company back on the profitable track.
Konstantin Rabin, financial expert and crypto enthusiast, unveils what hides behind Bitmain’s recent decision to cancel mining operaions in Texas explaining what this could mean for the whole industry.
After facing rejection from the Hong Kong regulators, Canaan proceeds to even bigger crypto market i.e. the United States to laucnh an IPO.
As the company files for an IPO, it gives complete details on its corporate dealings, revenues and profits, as well as its operations across the globe.
Few days after SoftBank and Tencent disputed their involvement in a widely reported pre-IPO investment round of Bitmain, DST Global denied investment in the giant’s IPO as well.
Bitmain going public at $18 billion will be the highest IPO in the history which will bring a lot of traditional market players to the crypto space.
The latest round of funding by Sequoia Capital has helped Bitmain to take its valuations to a whopping $12 billion.
The company’s founder Jihan Wu is reportedly planning to launch an initial public offering (IPO), what could become one of the largest listings in the industry.