Antminer X3 Announced

Will new product of Bitmain be profitable? Let's try to figure out
15 March 2018   4740

Bitmain, one of the largest mining equipment manufacturer, released another product - Antminer X3.

Antminer X3
Antminer X3

Antminer X3 Specs

Let's check the specs:

  • Mining algorithm - CryptoNight.
  • Hashrate - 220 KH / s.
  • Weight - 7 kilos.
  • Price - 11,999 dollars for the first batch (May 15-31) / $ 7,599 for the second batch (June 15-31).
  • Power consumption - 550 Watts.
  • Limitation - no more than one miner to each buyer.

Bitmain says that the described characteristics are preliminary. In real life, higher performance expected. Details on the dimensions and other small things isn't available yet. 

Antminer X3 Profitability

Now, the most interesting part - profitability. Let's use the Whattomine. 

Antminer X3 Profitability
Antminer X3 Profitaiblity

Almost 200$ dollars a day, great! But in real world, everything can vary.

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   429

The largest mining company Bitmain has submitted to the Hong Kong Stock Exchange (HKEX) listing application for an initial public offering (IPO), according to CoinDesk.

The application is a draft option, and some of its details, in particular the number of shares offered for sale and the immediate date of the IPO, are still in the process of editing.

Nevertheless, the document indicates that last year Bitmain's revenue was $ 2,517,719,000. This figure is higher than in 2016 ($ 277,612,000). As of June 30, 2018, the company's revenue was $ 2,845,467,000.

The application said that in 2017 the gross profit of the company was $ 1 212.7 million, which is also higher than in 2016 ($ 151,351,000).

Earlier, the head of Bitmain, Jihan Wu, expressed his indignation over the actions of the company's chief financial officer, who disclosed the figures for the first quarter 60 days after his end, and not after 90, as he had expected.

The media suggested that in the run-up to the IPO the publication of such information could have a negative effect on the company's investment attractiveness.

In addition, the document confirmed the media's information that Bitmain owns a 3% stake in Opera's Internet browser thanks to an investment of $ 50 million.

The application also indicates that the underwriters of the IPO are China International Capital Corporation Hong Kong Securities Limited, Commerce and Finance Law Offices, Maples and Calder LLP, KPMG and Frost & Sulliva