Altcoin News: Bitmain Can Increase Its Own Hash Rate by 50%

August 23, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Bitmain, a Chinese mining company, has allegedly placed an application for the purchase of 600,000 new chips. About it writes The Block with reference to local media.

According to them, such information was provided by a source from the logistics chain, close to the manufacturer of semiconductor wafers and chips Taiwan Semiconductor Manufacturing Company. Some chips are presumably represented by the latest 7nm models with a hash rate of 50TH / s. Bitmain’s total computing capacity is expected to increase by 50% in 6 months.

In addition, the new chips should increase Bitmain revenue by $1.2 billion and raise capitalization to $12 billion, the publication said.

Earlier became known that Bitmain may conduct an initial public offering (IPO) in the United States after a failed attempt in Hong Kong and try to raise $300–500 million. It is assumed that the IPO of the mining company will be held in the second half of this year.

Also in early August, information appeared that Bitmain losses for the first two months of 2019 amounted to $625 million.

Author: Marko Vidrih