Bitmain lost $625 million in the first two months of 2019
Losses in January and February were $345 million and $280 million, respectively. In March, the company was expected to generate a profit of $315 million, bringing the total loss for the first quarter to $310 million. According to media reports, this is due to the liquidation of outdated 16nm miners at a reduced price during the period.
Despite the weak start of the year, Bitmain expects to prove itself in the second half of the year. This should be facilitated by the removal of old miners from warehouses and the release of new 7nm devices for sale. Earlier it was reported that Bitmain ordered a large batch of 7nm chips from Taiwanese semiconductor company TSMC with an expected delivery time of 3-4 months.
The company intends to consistently increase cash receipts during the third quarter as it receives preliminary orders for new equipment and is preparing for explosive growth when deliveries begin. Bitmain's special expectations also relate to its range of products focused on the artificial intelligence industry.
Positive results in the second half of the year may contribute to the success of Bitmain's initial public offering (IPO), which the company is expected to conduct in the U.S. after the failure in Hong Kong.
To listen to the audio version of this article click on the play image.
![](https://steemitimages.com/640x0/https://s18.postimg.org/51o0kpijd/play200x46.png)
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Congratulations @ivans5! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOP
To support your work, I also upvoted your post!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!