Crypto Unicorn Bitmain Weighs $18 Billion IPO.

www.coindesk.com

Bitmain looks like a hot company from the outside. However many concerns have spiked since the rumours came out: “Why is Bitmain raising capital so fast & only showing Q1 results to pre-IPO investors? We're well into Q3 now. The reason is Q2 was a disaster. Bitmain is sitting on a massive $1.24 billion USD in inventory & S9 prices dropped by ~85%! Q2 losses range in the $600-700 millions.”

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