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Bitmain has “potential”: says the research even as the Bitcoin mining giant suffers from severe losses

Bitcoin is one currency that has been immensely influential in the sector; it continues to be the most popular digital currency today. In spite of the changes and the fluctuation in the field as well as the decline in its value this year, it can be believed that there is still scope for it. Bitmain has been the primary miner of Bitcoin and according to a recent report, just like the currency; there is hope in the market for Bitmain even though it is riddled with losses right now.

An IPO is being planned by Bitmain in the near future, however, up until now, not much was revealed about it. It is being said that this IPO by Bitmain can lead to reaching a figure of $18 billion; however, there are also those who believe that only $3 billion will be raised in the market. For the longest period of time, the reports have persisted that this exchange has not been able to perform according to what was expected by several experts in the market. However, in the recent reports conducted by BitMEX, it was found that the major reason for the losses of Bitmain is because of its BCH investment. The loss of Bitmain comes to $328 million. Another reason for the loss of this firm is the launching of better technology by its competitors. Basically, all these factors came together and it resulted in the losses if this firm which has done well in the market for a long period of time.

However, according to the research of BitMEX, even as the firm is currently lagging behind in the market, it scores over a lot of other firms when it comes to building the kind of strategies that cannot be developed by the other firms in the sector.

The IPO that it is planning to launch recently has the potential to bring about a massive increase in the value; it is believed that it will take the value of the firm to the mark of $20 billion and even beyond. It can be believed that the other factors will also play a major role in the extent to which Bitmain will perform in the future, that is, with a better management, organization, and a practical leadership, there is a chance that it can retain the position it had held in the market. However, it has to be immensely meticulous in its strategies and business decisions.

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Kavya Lakhani

Kavya is one of the integral members of the CryptoNewsZ Journalists team. She manages the team of correspondents and researches for the platform. She holds a master degree in Journalism and has cryptocurrency trading experience as well. She constantly follows the cryptocurrency ecosystem with a passion for decentralized fin-tech.You can also mail her at [email protected] to discuss anything related to her reports.

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