Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

Bitmain Technologies Ltd / Equity Capital Markets

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Bitmain is one of the most profitable companies in this planet right now (among the companies that generate more than US$1 billion in net profit annually). Bitmain is expected to go for an IPO on the Hong Kong Stock market in a few weeks. Bitmain has already secured investments from world famous companies including Sequoia Capital, <a href="https://www.smartkarma.com/entities/26" target="_blank" data-smartkarma-citation="entities:26:1">Tencent Holdings (700 HK)</a>, and Softbank. In the midst of this excitement, one of the pre-IPO investor deck pages became publicly available and this has become one of the most hotly debated topics in the cryptocurrency industry right now - which is Bitmain's HUGE holdings in Bitcoin Cash. 
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<li>Bitmain owned 1.0 million units of Bitcoin Cash and 22k units of Bitcoin at end of March 2018. In value terms, this represented US$718 million of Bitcoin Cash and US$153 million of Bitcoin at end of March 2018 with total cryptocurrency holdings of US$1.085 billion (in terms of value) at end of March 2018. Bitcoin Cash currently has a market cap of US$9.0 billion and Bitmain is one of the biggest owners of Bitcoin Cash with an estimated amount of nearly 5.7% stake in this cryptocurrency. </li>
<li>The fact that Bitmain is one of the biggest miners of cryptocurrencies raises a lot of question marks. We know that Bitmain is the biggest player in producing the cryptocurrency mining machines but its technological moat in this space has been decreasing versus its major competitors including Canaan and Ebang in the past few months. </li>
<li> Three major reasons why Bitmain is such a valuable company are as follows:
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<li>Bitmain is the best and biggest player in producing cryptocurrency mining machines.</li>
<li>Bitmain is one of the biggest miners of cryptocurrencies globally and has a huge amount of cryptos.</li>
<li>Bitmain is intent on developing the next-generation, artificial intelligence chips. </li>
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Bitmain is one of the most profitable companies in this planet right now (among the companies that generate more than US$1 billion in net profit annually). Bitmain is expected to go for an IPO on the Hong Kong Stock market in a few weeks. Bitmain has already secured investments from world famous companies including Sequoia Capital, Tencent Holdings (700 HK), and Softbank. In the midst of this excitement, one of the pre-IPO investor deck pages became publicly available and this has become one of the most hotly debated topics in the cryptocurrency industry right now - which is Bitmain's HUGE holdings in Bitcoin Cash. 

Bitmain owned 1.0 million units of Bitcoin Cash and 22k units of Bitcoin at end of March 2018. In value terms, this represented US$718 million of Bitcoin Cash and US$153 million of Bitcoin at end of March 2018 with total cryptocurrency holdings of US$1.085 billion (in terms of value) at end of March 2018. Bitcoin Cash currently has a market cap of US$9.0 billion and Bitmain is one of the biggest owners of Bitcoin Cash with an estimated amount of nearly 5.7% stake in this cryptocurrency. 
The fact that Bitmain is one of the biggest miners of cryptocurrencies raises a lot of question marks. We know that Bitmain is the biggest player in producing the cryptocurrency mining machines but its technological moat in this space has been decreasing versus its major competitors including Canaan and Ebang in the past few months. 
 Three major reasons why Bitmain is such a valuable company are as follows:

Bitmain is the best and biggest player in producing cryptocurrency mining machines.
Bitmain is one of the biggest miners of cryptocurrencies globally and has a huge amount of cryptos.
Bitmain is intent on developing the next-generation, artificial intelligence chips. 




China

Bitmain Technologies Limited. provides computer devices. The Company offers computing chips, high density server equipment, and large scale parallel computing software. Bitmain Technologies serves customers worldwide.

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Bitmain Technologies Ltd (1374554D CH)

Bitmain IPO, Bitcoin Cash, & Wu Jihan

Bitmain is one of the most profitable companies in this planet right now (among the companies that generate more than US$1 billion in net profit...

Douglas Kim

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