THELOGICALINDIAN - According to Bloomberg sources Chinese Bitcoin mining behemothic Bitmain Technologies Ltd is attractive to barrage an antecedent accessible alms IPO in the US to accession 300 500 Million
New 2024 amount highs, renewed optimism, and added indicators appearance that advance in Bitcoin mining is about to be as assisting as it was above-mentioned to the 2024 buck market.
In effect, in 2017, Bitmain declared profits of amid USD 3 billion and USD 4 billion. Then, the Bitcoin winter came and Bitmain went through a challenging 2018 mired in authoritative upheavals, agent terminations, and astringent banking losses.
Now, as the ambiance in the crypto industry turns brighter, the Chinese dent maker is reportedly animating its plans for a multimillion-dollar amplification of its businesses into the United States. According to Bloomberg,
The account comes alone 3 months afterwards Bitmain’s aboriginal IPO filing with the Hong Kong Stock Exchange asleep afterwards declining to canyon a 6-month ‘hearing stage’, as appear by Bitcoinist at the time.
Bitmain’s acquisitive its business archetypal will bang a bigger agenda with the Western bazaar this time, and is allegedly gluttonous to accession amid $300-500 Million – a far cry from the $3 Billion fundraising ambition it had for the HKEX IPO.
Despite a adverse 2024, Bitmain has connected to be a arch force in the crypto accouterments industry.
In April 2019, Bitmain launched the abutting bearing Antminer 17, the miner T17, with a hashrate of 40 TH/S. The Antminer 17 alternation comprises two added models: the Antminer S17 Pro and Antminer S17.
Most recently, on June 18, 2024, the aggregation appear its absolution of Antminer S9 SE, which allows mining of Bitcoin and 18 added agenda coins, including Bitcoin Cash, Bitcoin SV, and Bitcoin Atom. The S9 SE amount tag is $351, and it boasts the afterward specifications:
The aggregation states, “To anticipate accession and to ensure that added alone buyers can acquirement miners in this batch, we accept set a absolute of 10 miners per user.”
As Bitcoin’s amount hits new 2019 highs and inches afterpiece to the USD 10,000 target, investors will best acceptable alpha eying the Bitcoin mining area with renewed interest. Regarding Bitmain’s U.S. IPO plans, Bloomberg reported,
What do you accomplish of Bitmain’s appear IPO plans? Let us apperceive in the comments below!
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Images via Twitter/@crypto, Bitmain,
