After months of speculation, Bitmain — the world’s better provider of crypto miners — has opened the close capacity of its business afterwards it submitted its IPO announcement with the Stock Exchange of Hong Kong. And some of the advance numbers are insane.
The certificate doesn’t specify how abundant five-year-old Bitmain is aiming to accession from its advertisement — that’ll appear after — but it does lift the lid on the absurd business advance that the aggregation saw as the crypto bazaar grew massively in 2017. Although that additionally comes with a question: can that advance abide in this accepted buck market?
The aggregation grossed added than $2.5 billion in acquirement aftermost year, a near-10X bound on the $278 actor it claims for 2016. Already, it said acquirement for the aboriginal six months of this year surpassed $2.8 billion.
Bitmain is best accepted for its ‘Antminer’ accessories — which acquiesce the buyer to abundance for Bitcoin and added cryptocurrencies — and that accounts for best of its revenue: 77 percent in 2016, 90 percent in 2017, and 94 percent in the aboriginal bisected of 2018. Added assets is generated by its mining farms, aggregate mining pools, AI chips and blockchain services.
The aggregation is fabless, which agency it develops its own dent architecture and works with accomplishment ally who accompany them to activity as concrete chips. Those
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