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- Whatsminer is all prepared to launch its initial public offering (IPO) in the U.S.
- The company’s market is expected to surge with the respective plan, with its revenue possibly hitting $1 to $2 billion in 2021
- 500.com Ltd’s historic deal to obtain mining machines from an unknown non-U.S. seller reflects on the lively status of the crypto mining industry
Whatsminer is deemed as one of the world’s largest mining machine manufacturers of Bitcoin. It is finally preparing to be public in the United States. Based in China, Whatsminer is allegedly looking to acquire supplementary funds. The reason behind the same remains its plan to purchase Samsung chips with the initial public offering (IPO).
The expected surge in the revenue of Whatsminer
According to the reports of the Chinese media outlets as well as the Asian journalist Collin Wu, the company’s market value is expected to exceed tens of billions.
Wu cited three familiar sources in the aforementioned context. He claimed that such a project could support the mining giant by increasing its production capacity. This is directly based on the increased acquisition of funds by the firm.
The surge in the price of mining machines could lead to Whatsminer’s revenue reaching a record high of $1 to $2 billion in 2021.
Even though the schedule is not confirmed yet, Weixin predicts that both Bitmain and Whatsminer have the potential of being listed in the U.S. in the coming two years.
The delay in the US public listing plans
Yang Zuoxing, a former employee of Bitmain and the founder of Whatsminer, also prides on being the forerunner of the S9 mining devices Bitmain produces. However, back in 2019, Bitmain filed a lawsuit against him for alleged “infringement of trade secrets.”
Whatsminer’s IPO schemes involve going public on the platform of Nasdaq. The plans of the US public listing are being processed since 2019. The major reason behind the delay has been the aforementioned legal issues with Bitmain.
The brand new action in the Crypto Mining Industry
On a round-up, the crypto mining industry has been quite active since the last few months, especially in the manufacturing industry. 500.com Ltd., just signed a brand new contract to procure mining machines from an unknown non-U.S. seller. The respective transaction will facilitate the company’s acquisition of mining machines, namely the S9 from Bitmain and the M20s from Microbt S17.
It will be interesting to see how the crypto mining world will respond to Whatsminer’s IPO plans. The readers will have to wait to witness Whatsminer’s plan of action with the same.
