For 2 months of 2019, Bitmain lost $ 625 million

According to a Chinese news company : Bitmain’s total operating income for the first quarter was $ 1.082 billion, and revenues for three months are $ 253 million, $ 253 million and $ 579 million, respectively. In January and February, the losses amounted to $ 345 million and $ 280 million, although in March the company’s profit amounted to $ 315 million. However, the loss of $ 310 million in the first quarter does not look too inspiring.

It is believed that the losses were associated with the shipment of obsolete 16-nm mining rig at low prices.

Despite losses in the first quarter, Bitmain expects successful results in the second half of the year. By that time, the old stocks will be sold out, and the company will begin selling new 7-nm devices.

It is assumed that Bitmain placed a large order for 7-nm chips from the company Taiwan Semiconductor Manufacturing Company (TSMC), the delivery time of which is from 3 to 4 months. Accordingly, the cash flow in the 3rd quarter should increase, as pre-orders for new cars will be accepted. Then, together with the first deliveries, most likely, there will be an explosive growth in profits.

Profit growth is also expected in product lines using artificial intelligence (AI) technology.

In addition, it is possible that the company has resumed its plans for an IPO in the United States, since the term of the application filed in Hong Kong has expired.

In 2018, Bitmain had a disastrous year, as prices on cryptocurrency markets fell and the rate to support Bitcoin Cash was at least rash.

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