Londanny 006 - 🔥Bitmain Raises $400 Million in Pre-IPO Funding

Just a quick update for you miners out there, just come across this.

Bitmain owned by Jihan Wu that sells application-specific integrated circuit (ASIC) chips and manufacturers cryptocurrency miners have decided to launch an IPO or at least the rumblings of IPO.

It looks like they already raised $400 million in the past week valuing their company at $12 billion. Some estimates had it at $8.8 to $10 billion. Credit where credit is due, this means that for the group to be valued at $12 billion that means a company or a group of people want to aggressively continue to exploit whatever they can in some of these crypto algorithms by using the ASIC and hopefully get their money back before these loopholes are closed.

I think they're worth more than $12 billion because of the future implications of what they provide. If they can mine bitcoins and sell Bitcoin miners pretty much forever, they have the hardware and if they can build it in an industry that I know will be around for a long time then $12 billion is a drop in the ocean I think they'll be worth way more! Bitmain has their market cap between 30 and 40 billion dollars themselves.

What are your thoughts on Bitmain and ASIC miners? I had one, but when I turned it on, it was louder than the washing machine!!