Bitmain Generated $2.3B Revenue in 2017

Mining equipment manufacturer giant reported on great revenue in 2017
05 February 2018   1257

The 2017 sales of Bitmain reached an amazing 14.3 billion yuan ($2.3billion USD) point and it becomes China’s second largest IC design company.Monthly profits of Bitmain in 2017 was up to $30 million USD and they achieved a net profit of more than 1 billion yuan in the first half of 2017. This is reported by 8BTC.

Bitmain had also designed and mass-produced a variety of different ASIC chips with the advanced quantity production technology in full-custom designed 28nm, 16nm, 12nm integrated circuit, the series of BM chip used in cryptocurrency miner could be the most representative one. Bitmian sales hundreds of thousands miners every year, each miner needs hundreds of ASIC chips, for example, an AntMiner S9 needs 189 ASIC chips.

Russians, together with Indians and residents of European countries, are more often than others on the list of customers of mining equipment sellers and usually pay in cash.

One of the most popular Bitmain products is AntMiner S9. On the official website, the miner costs 14,000 yuan ($ 2,300).

Bitmain IPO Application Deadline to Expire

According to the latest statement, team doesn't lose spirit and appointed new CEO
26 March 2019   84

The application of the Chinese mining company Bitmain to conduct an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEx) expired yesterday, March 25. This is reported by the Cointelegraph.

The company filed an application six months ago, for which it provided financial statements to the HKEx committee. However, during this period, the hearing on the application did not take place.

To re-register an application to HKEx, the company will need to disclose financial statements for the third quarter of 2018.

Today, 26.03.19, Bitmain published a blog post, in which it reported in new CEO Haichao Wang appointment and share some plans.

Bitmain’s listing application to HKex in September 2018 has reached its 6-month expiration date. We do recognize that despite the huge potential of the cryptocurrency and blockchain industry, it remains a relatively young industry which is proving its value. We hope regulatory authorities, media, and the general public can be more inclusive to this young industry. We will restart the listing application work at an appropriate time in the future.

Bitmain Team

In November 2018, an application for an IPO from a mining company Canaan Creative was canceled.