The largest producer of Bitcoin and cryptocurrency mining rigs, i.e. Bitmain has now aimed for a USD 18 billion IPO (Initial Public Offering). The IPO is aimed to be launched on the Hong Kong exchange in Q4 2018 or Q1 2019. This IPO has made an entry in the title of the first largest cryptocurrency.
Generally, there aren’t numerous cryptocurrency or Bitcoin-related stocks and those that do exist have little capitalization. Bitmain will be the initial major Bitcoin-and cryptocurrency related stock, with an anticipated opening business sector of price USD 40-50 billion, which is quite 50% of the aggregate Bitcoin showcase priced at USD 108 billion as of this written work on 12 August 2018. This will be on a comparative size of the greatest IPOs ever, for example, Facebook which had a market cap close USD 90 billion during the dispatch of its stock.
Bitmain just effectively finished a USD 1 billion pre-IPO financing round in rapid form, directing its valuation up to USD 15 billion. This is on the main areas of its Series A and Series B funding rounds which pulled in USD 50 million and USD 400 million separately. These rounds have seen Bitmain’s valuation dynamically and quickly develop in under a year.
The reason Bitmain has such a high valuation is it is pulling in tremendous benefits, after cornering the Bitcoin and cryptocurrency mining markets. Bitmain offers the equipment for mining, the mining pools Bitmain works control about a portion of Bitcoin’s aggregate hash rate, and Bitmain has a huge reserve of Bitcoin’s from its massive in-house mining activity.
Bitmain stock will provide a way for investors to invest in the architecture of cryptocurrency, an alternative way to fund in Bitcoin.
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