Bitmain Reports $1.1 Billion Profit in Q1

Home / Bitmain Reports $1.1 Billion Profit in Q1

The Chinese mining giant expects to earn $2 to $3 billion in profit for the fiscal year. Today’s figures mark a significant increase since last year when Bitmain said that it brought in $1.2 billion in profit and $2.5 billion in revenue — much less than the $3 to $4 billion originally estimated by analysts. The company also confirmed that they are in the final stages of preparing to hold an initial public offering (IPO) on the Hong Kong Stock Exchange (HKEX).

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