The Chinese mining giant Bitmain made a profit of $ 1.1 billion in the first quarter of this year. This is reported by the Fortune.
In particular, the source confirms the information that the largest producer of mining equipment is preparing for an initial public offering (IPO) in Hong Kong.
After the additional $ 400 million raised in June, the value of Bitmain is estimated at about $ 14 billion (16.6% more than the company's previous estimate).
Only for the first quarter of this year, Bitmain's net profit was $ 1.1 billion. According to the most conservative projections, in annual terms this figure will amount to 2 to 3 billion US dollars.
Over the past year, the company of Jihana Wu earned $ 2.5 billion, which is eight times higher than in 2016.