GMO Internet Mining Power to Rise Significantly

The Japanese giant mined almost 2 000 000 USD in February
06 March 2018   972

In February, the Japanese conglomerate GMO Internet Group earned about $ 1.8 million with mining. In a month, the company produced 124 bitcoins and 287 Bitcoin Cash, reports Finance Magnates.

Compared to January, the productivity of GMO mining farms has grown significantly - then the company produced 93 BTC and 25 BCH. Thus, in February bitcoins were produced by 30% more, and the volume of received BCH grew more than 10 times.

It is noted that during the same period, the company's total hashrate increased from 27 to 108 PH / s, demonstrating a fourfold increase. According to GMO representatives, by the end of 2018 the organization plans to reach the level of 3000 PH / s.

For comparison, San Francisco company BitFury, which accounts for about 1.6% of the world's production capacity, mine a crypto currency with a frequency of about 295 PH / s. Thus, GMO Internet has already reached about a third of this hashrate in just two months.

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   396

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