Bitmain hits profitability, raising more cash ahead of IPO
July 31, 2018
Hardware | Beijing, China
Bitmain produced $1.2 billion in net profit in 2017 and $1.1 billion during 1Q 2018, per Fortune. The cryptocurrency mining company, which reportedly plans to conduct a public offering "very soon," is also believed to be raising new funding that would value it at around $14 billion, up from the $12 billion valuation it reached earlier this year.