BitMEX Research: Bitmain Lost Nearly $400M In The Last Quarter

Chinese bitcoin mining giant Bitmain, which recently filed for an IPO, lost nearly $400 million in the last quarter, according to IPO documents.

The other day, it submitted its IPO (IPO) documents to the Hong Kong Stock Exchange (HKEX). Bitmain is expected to hold the largest crypto-related IPO in history.

While much information and documents about the company have been redacted, cryptomining giant Bitmain has historically faced a rather worsened situation, according to a comprehensive analysis published by BitMEX.

Mining giant Bitmain made a net profit of $742 million in the first half of 2018, according to the filing for the IPO, but something is masking these figures! According to a leaked information, the company’s net profit in the first quarter of 2018 alone is $1.1 million. As a result, assuming that the leaked information about Bitmain is correct, we conclude that the company had a net loss of exactly $395 million in the 2nd quarter.

Bitmain is Still a Market Giant

Despite this situation, according to BitMEX research, Bitmain is still It continues to exist in a very strong situation compared to its competitors.

It would not be wrong to evaluate this situation as the world’s largest bitcoin mining company Bitmain has a prediction that the prices of crypto coins will increase. Because as you will appreciate, no miner will do this job ‘to a loss’….

Follow us on Twitter, like our Facebook page and join our Telegram channel to be instantly informed about the last minute developments!

Leave a Reply

Your email address will not be published. Required fields are marked *