To clarify, they did lose money in Q2, but they have still been very profitable for the year. They haven't exactly been doing well as of late, which isn't very unexpected given the status of the market, but it's not like they're on the ropes or anything. There is a clear downtrend but they're not about to file for bankruptcy anytime soon -- even without the IPO.
As for their motivations behind this, could it be the impending arrival of competitors? News about a Samsung partner entering the mining ASIC industry came out recently. Maybe they want to maintain near-monopoly of the market? Bitmain doesn't have the best reputation so I'm sure lots of people will jump ship once a decent competitor comes along.
Topic: Cryptocurrency giant Bitmain chooses Hong Kong for IPO - page 2. (Read 331 times)
Why would a company that made almost 1 billion $ last want to share part of their 'profit making' company with the public?
Bitmain has lost half a billion dollar because of its chips production costs and over $400m just during the last three months. The only hope for the company is to get new investments coming. Bitmain is fucked for good it's now trying to find people to enroll in its fall
move away from reddit. its bad for your health.
instead read practical sources of information.
you wont learn anything from reddit or media that just say "based on a report that someone read"
its better to check and research the sources
the $400mill in the last 3 months is them getting investment
https://www.crunchbase.com/funding_round/bitmain-series-b--baa54731
they also re invested in other companies
https://www.crunchbase.com/organization/bitmain#section-investments
Sep 10, 2018 1000video
Aug 17, 2018 Lambda
Aug 8, 2018 TribeOs
Aug 2, 2018 Bizkey
Jul 31, 2018 PopulStay
Jul 26, 2018 MoonX
Jul 16, 2018 Block.one
Jul 13, 2018 NULS
Jul 11, 2018 DoraHacks
you do know that bitmain has not made loses. infact even before the IPO they have been making investments themselves in other companies. and have increased their hashrate.
https://data.bitcoinity.org/bitcoin/hashrate/6m?mining_pool=AntPool&t=a
the real funny thing is no one is talking about how BTCC is dying out and now sits in the low % of hashrate.. even samson mow jumped ship away from BTCC
https://data.bitcoinity.org/bitcoin/hashrate/6m?mining_pool=BTCC+Pool&t=a
Why would a company that made almost 1 billion $ last want to share part of their 'profit making' company with the public?
Bitmain has lost half a billion dollar because of its chips production costs and over $400m just during the last three months. The only hope for the company is to get new investments coming. Bitmain is fucked for good it's now trying to find people to enroll in its fall
So you're saying they just made ~$900m loss? Seems impropable for most efficient bitcoin hardware manufacturer. And how would you know that in the first place?
Can you provide source?
Are you saying they lied about that >$740m profit for the first half of the year in their prospectus? That would be a criminal offence, ridiculously easy to detect.
Why would a company that made almost 1 billion $ last want to share part of their 'profit making' company with the public?
Bitmain has lost half a billion dollar because of its chips production costs and over $400m just during the last three months. The only hope for the company is to get new investments coming. Bitmain is fucked for good it's now trying to find people to enroll in its fall
Why would a company that made almost 1 billion $ last want to share part of their 'profit making' company with the public?
Bitmain has lost half a billion dollar because of its chips production costs and over $400m just during the last three months. The only hope for the company is to get new investments coming. Bitmain is fucked for good it's now trying to find people to enroll in its fall
https://www.reuters.com/article/us-bitmain-ipo/cryptocurrency-giant-bitmain-chooses-hong-kong-for-ipo-idUSKCN1M627L
Bitmain Technologies, the world’s largest designer of products used for mining cryptocurrencies, confirmed it was bringing its IPO to Hong Kong in what will be an important test of institutional investors’ interest in the crypto sector...
Bitmain Technologies, the world’s largest designer of products used for mining cryptocurrencies, confirmed it was bringing its IPO to Hong Kong in what will be an important test of institutional investors’ interest in the crypto sector...
crypto is shifting away from the concentration around mining, and towards inteligent capitalism and project/development and funding actually, like it was the case with brave browser
https://www.reuters.com/article/us-bitmain-ipo/cryptocurrency-giant-bitmain-chooses-hong-kong-for-ipo-idUSKCN1M627L
Bitmain Technologies, the world’s largest designer of products used for mining cryptocurrencies, confirmed it was bringing its IPO to Hong Kong in what will be an important test of institutional investors’ interest in the crypto sector...
Bitmain Technologies, the world’s largest designer of products used for mining cryptocurrencies, confirmed it was bringing its IPO to Hong Kong in what will be an important test of institutional investors’ interest in the crypto sector...
This is brave move and damn shit profit they from this worst year. Just think and conclude it how the giant are making money on bearish market time also only small projects and service renders are getting buthurted with investing on their money.
However they are bringing IPO means it will be fine for Hong Kong government and for the people.
https://www.reuters.com/article/us-bitmain-ipo/cryptocurrency-giant-bitmain-chooses-hong-kong-for-ipo-idUSKCN1M627L
Bitmain Technologies, the world’s largest designer of products used for mining cryptocurrencies, confirmed it was bringing its IPO to Hong Kong in what will be an important test of institutional investors’ interest in the crypto sector...
Bitmain Technologies, the world’s largest designer of products used for mining cryptocurrencies, confirmed it was bringing its IPO to Hong Kong in what will be an important test of institutional investors’ interest in the crypto sector...
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