Bitmain's Profit to Exceed $1B in Q1 2018

After the additional $ 400 million raised in June, the value of Bitmain is estimated at about $ 14 billion
31 July 2018   1482

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.

Bitmain to Launch Mining Centre in Texas

According to the company's plans, the farms capacity can reach 300 MW, which will make it the largest in the world
21 October 2019   82

Bitmain has completed the construction of a 50 MW mining center in Rockdale, Texas.

In the future, the farm's capacity can reach 300 MW, which will make it the largest in the world, according to Bitmain.

The company will create new jobs in the region. Together with local authorities, the company also organizes training for specialists in the field of blockchain technology and the maintenance of data centers.