Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: fitload on September 27, 2018, 11:46:52 AM
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Bitmain Technologies, the Chinese virtual currency mining firm co-founded by billionaires Jihan Wu and Micree Zhan, released its first public financial statements in a Hong Kong regulatory filing on Wednesday, confirming its intention to go public on the Hong Kong stock exchange.
Bitmain filling revealed that it made a profit of $742 million for the first six months of this year. Revenue was up tenfold in the same period, to $2.8 billion as of the end of June, and adjusted return on equity was 58.8 percent.
The bulk of the company’s revenue came from selling hardware to mine cryptocurrencies. The company plans to use the proceeds of the IPO to invest in research and development and expand its production output.
Bitmain is the third, and largest, Chinese maker, of bitcoin miners hoping to float in Hong Kong this year. It had 85 percent share of the cryptocurrency mining rig market in 2017.
Two of Bitmain’s biggest rivals – Canaan and Ebang International – are also pursuing IPOs in Hong Kong as they seek funding for a technological arms race. Bitmain, which controlled an estimated 85% of the market for cryptocurrency mining chips last year, risks losing its competitive edge, Sanford C. Bernstein & Co. analysts wrote in a report last month.
Read More: https://news.bitzamp.com/crypto-giant-bitmain-reveals-profits-and-chooses-hong-kong-for-ipo/ (https://news.bitzamp.com/crypto-giant-bitmain-reveals-profits-and-chooses-hong-kong-for-ipo/)
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i think Hongkong always being the best place to held IPO or ICO sale stage, because the demand of crypto in that country was still high, even many bad news about crypto, Hongkong still be the promising place to launch ICO event.
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Every investment is a risk. It's not up to you whether you lose money or not. Only luck
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Those who don't want to lose money use safe sales
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In the world of cryptocurrencies there are no completely safe sales
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If you buy tokens through services such as w12.io (https://tokensale.w12.io/?utm_source=psv&utm_medium=altcoinstalks&utm_campaign=altcoinstalks.com/index.php?topic=54592.0) , you can not be afraid