Earlier, according to Bloomberg, Bitland CEO Wu Jihan is brewing IPO. Although there is no concrete plan, he expressed willingness to let Bitland be listed in Hong Kong, or issue US dollar-denominated stocks in overseas markets, because this will give Early investors including Sequoia Capital and IDG Capital provide liquidity opportunities.
By comparison, the two pieces of information are highly consistent. This round of pre-IPO rounds of valuation of US$12 billion is only 8 times the net profit of US$1.5 billion for Bitland in 2017. It is a value-added market, only to Sequoia Capital. The internal old shareholders are open.
According to statistics, Bitland’s revenue in 2017 was US$2.5 billion, which was more than 8 times of 2016 revenue; 2017 net profit was 15 times of 2016 net profit; the data in the first quarter of 2018 was close to the full year data of 2017 .
Bitland produces and processes various chips for cryptocurrency mining, including Bitcoin, Ethereum, Monroe, etc. Bitcoin CEO Wu Jinhan said in an interview that the field of artificial intelligence requires a lot of calculations. This is a natural choice. Wu Jihan also predicts that AI chips can account for 40% of Bitland’s revenue in five years. They just try to do something that they cannot control well.
In addition, Canaan, the second-ranked maker of bitcoin mining machines, has officially submitted a listing application to the Hong Kong Stock Exchange, or raised about one billion US dollars. This may be another incentive for Bitland to announce the IPO. .
Not long ago, China’s second-largest Bitcoin mining chip maker, Jinan Minzhi, submitted a prospectus to the Hong Kong Stock Exchange. The prospectus shows that the company’s profit in 2017 was 361 million yuan, which was more than 230 times higher than it was two years ago. In terms of earning capacity, the adjusted net profit rate has skyrocketed from 3.2% to 36% within two years. If the company is successfully listed, Jianan Minzhi will become the first blockchain company listed on the Hong Kong Stock Exchange.
Established in 2013 with a registered capital of RMB 100,000, Jinan Minzhi has specialized in the design and sale of high-performance integrated circuit boards. It is also a producer of the Avalon series of bitcoin mining machines. Since 2015, Jinan Minzhi Started the research and development of artificial intelligence chips. After nearly two years of hard work, in 2017, Jinan Minzhi pre-released the world's first artificial intelligence edge computing chip KPU.
The Nannan founder, Nan Zhang, was known as 'Pumpkin Zhang' in the money circle. In 2011, he designed the Avalon bitcoin mining machine to be the world’s first professional Bitcoin mining machine, ending the era of computer mining. However, Kennan Minzhi was relocated by Bit Continent and became the world’s second largest bitcoin mining company after BitContinent. According to the disclosure of Ka Na’s prospectus, the company’s total miner’s computing power accounted for the market in 2017. On the other hand, 19.5% of the combined power of all bitcoin mining products is on the order of 60%.
Like Bittown China, Kennan Minzhi's miner ASIC chips are designed for their own use, and their hot mining machine sales also bring a lot of revenue to the semiconductor industry chain. TSMC's total of nearly three years from the Kenan Minzhi battalion The revenue reached 380 million yuan, accounting for 60% of the total cost of the Jinan Yongzhi chip foundry in the past three years. It is reported that the two companies did not sign a long-term contract, but the form of purchase order to obtain supplies and prepaid amount.
In addition to the Bitcoin ASIC chip, Kennan Minzhi is also developing another digital cryptocurrency ASIC chip, which is expected to be mass-produced in the fourth quarter of 2018 and is now pre-sold with RMB 52,600,000. In addition, artificial intelligence ASIC chips are said to be available. Also in research and development, plans to put into production in the fourth quarter of this year, mainly for smart homes, smart cities, smart monitoring, voice and image recognition in smart toys, and a variety of Internet of Things applications.
It is worth mentioning that this is the third time that Kennan Yuchi applied for an IPO. The previous two attempts have not been successful.