Bitmain has eventually decided to go public with its first initial public offering (IPO) through the Hong Kong stock exchange. Its core business is to manufacture crypto mining equipment. It is considered a market changer in the Bitcoin mining market. Analysts commented that this IPO would boost the demand of digital currencies by local investors as well as investors and organizations from Hong Kong.
By looking at the market share of 74.5 percent and sales revenue, we will come to know that Bitmain is the world`s major crypto mining equipment providers. Frost and Sullivian also called Bitmain as the major mining equipment firm.
Bitmain higher business stats and its supremacy in the crypto mining sector are enough to attract investors for its public offering. Its sales revenue was recorded with the increasing trend from $137 billion to $2.5 billion from the past two years. Furthermore, it successfully generated profits of $1.1 billion in a just first half of the year 2018.
Bitmain also runs BTC.com and Antpool. With these mining pools, Bitmain also owns 11 mining centers in China as well. Through these mining pools, Bitmain accounts for 37.1% hash rate.
The IPO documents stated all of these stats and operations of Bitmain. It also discussed Bitmain farms in Sichuan, Xinjiang, and Inner Mongolia. These farms can stock up to 200,000 mining equipment. The document further read that BTC.com and Antpool are the world largest pool related to computing power. BitMEX conducted research on Bitmain IPO and notified that it will increase Britain’s profit margin and revenues and will give it a competitive edge.