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Crypto Mining Hardware Manufacturer Whatsminer Plans to Launch Public Offering in the US

Crypto Mining Hardware Manufacturer Whatsminer Plans to Launch Public Offering in the US

One of the world’s biggest bitcoin mining machine
manufacturers is preparing to go public in the United States.
China-based Whatsminer is reportedly looking to obtain additional
funds to buy Samsung chips with the initial public offering
(IPO).

Whatsminer’s Revenue Could Hit $1 to $2 Billion in 2021

According to Chinese media outlets and Asian journalist Collin
Wu, the company’s market value can exceed
“tens of billions.”

Citing three sources familiar with the matter, Wu says that such
a move could help the mining giant obtain more funds to increase
its production capacity.

The founder of Whatsminer, Yang Zuoxing, is a former employee of
Bitmain, and he claims to be the pioneer of the S9 mining devices
Bitmain produces. Back in 2019, Bitmain sued him for
“infringement of trade secrets.”

Whatsminer’s IPO plans include going public, on Nasdaq. The US
public listing plans have been in the works since 2019. However,
the aforementioned legal issues with Bitmain ahve delayed the
listing.

Per Weixin, due to the surge in mining machines’ price,
Whatsminer’s revenue could hit $1 to $2 billion in 2021. That’s
why the expectations around the company are high in anticipation of
the IPO, said Wu.

Although a timeline is not set yet, Weixin forecasts that both
Whatsminer and Bitmain could be listed in the U.S. in the next two
years.

Latest Moves in the Crypto Mining Industry

Overall, the crypto mining world has been quite lively in the
last few months, especially in the manufacturing industry. 500.com
Ltd
reached
an initial agreement to acquire mining machines from an
unnamed non-U.S. seller. The transaction will allow the company to
acquire mining machines, including such models as the M20s from
Microbt S17, T17, and S9 from Bitmain.

On December 16, 2020, news.Bitcoin.com
reported
that the latest generation mining rigs’ prices have
gone up 35% since the beginning of November.

What are your thoughts on Whatsminer’s IPO plans? Let
us know in the comments section below.

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Translator / 翻译者 / Traductor