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IPO File Shows Bitmain Lost $500 Million 2018 Q3
Summary: According to CoinDesk.com, mining hardware giant Bitmain lost about $500 million in the third quarter of 2018 with the downturn in the cryptocurrency market in 2018. According the IPO application that Bitmain submitted, it shows that Bitmain's profit in the first nine months of last year was about $500 million, and its revenue was slightly ...
According to CoinDesk.com, mining hardware giant Bitmain lost about $500 million in the third quarter of 2018 with the downturn in the cryptocurrency market in 2018. According the IPO application that Bitmain submitted, it shows that Bitmain's profit in the first nine months of last year was about $500 million, and its revenue was slightly more than $3 billion. However, Bitmain previously disclosed its total profit for the first half of 2018 to $1 billion, which resulted in a net loss of approximately $500 million in the third quarter. The company also reported that its first-half revenue was $2.8 billion, so its third-quarter revenue was only about $200 million.
