Bitmain to Open Office in Texas

Rockdale's residents have already expressed the hope that the new business will bring new jobs to the region
02 August 2018   541

Chinese mining giant Bitmain is preparing to open a data center in Texas (USA). This conclusion made from the vacancies published by the company.

In particular, Bitmain is looking for a project manager and data center site manager for a new venture in a small town of Rockdale. Local residents have already expressed the hope that the new business will bring new jobs to the region that is in decline.

In 2014, local smelting plant was closed, and this year the coal-fired power plant stopped operating in the town, resulting in a reduction in jobs at a nearby mine.

Local residents hope that the new data center will bring Rockdale high-skilled jobs. However, as the unnamed specialist of the branch noted, mining requires a lot of capital and few people.

In addition to Rockdale, Bitmain is looking for staff in Chandler (Arizona), as well as in two cities in Washington State - Malaga and Wenatchee.

Chinese company received the profit of $ 1.1 billion for the I quarter of 2018. Also, recently Bitmain noted that it contols 4% of Bitcoin's network hashing power.

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   423

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