Bitmain Strikes Again
Chinese company Bitmain is going from strength to strength without a doubt. After making a whole lot of dollars worth of profit in 2017 alone, the firm is expanding at a rapid rate in 2018. There have been many recent reports of a new office and mining operation opening in the United States as well as moves into the search engine market. There have also been announcements that an IPO is scheduled in the not too distant future. The Bitcoin mining processor producer is certainly enjoying the ride of its life at the moment.
The massive investment into an IPO is a great sign that things are extremely positive for the new Blockchain technology. Blockchain is still very much the talk of the town even if skeptics are still concerned and uncertain about Cryptocurrencies. Many countries and firms are now taking the opportunity to develop their systems with the support of Blockchain and exploring just what it can do for them.
Despite the current down surge in the Cryptocurrency market, Blockchain is still going strong and seeing investment increase quite dramatically compared to this time last year. In fact, statistics show an incredible $1.8 billion was put into Blockchain in the first six months of 2018 alone through venture capital. That is a remarkable amount of money. It just goes to prove how well Blockchain is being embraced and this will only carry on looking at recent news and how far reaching the Blockchain phenomenon is now.
Another Momentous Occasion
Bitmain is on the eve of another great moment of history if the $18 billion IPO does go ahead as planned. Not only will it be one of the largest IPOs ever recorded but it will see the company’s value shoot up to over $40 billion. This is undeniably due to the sales from its mining processors. This Blockchain company really is thriving at the moment and enjoying the fruits of its labour.
All About Blockchain
On top of all of this, recent research on LinkedIn shows just how far Blockchain and Cryptocurrencies have come. Searches on “Blockchain” or “Cryptocurrency” on members has highlighted that 928 employees had “blockchain” associations with a further 36 employees citing “Cryptocurrency” on their profile. This research is from a review of 247 of the top companies on LinkedIn. Of these companies, it was very clear that IBM was well out in front with very nearly 700 employees working on Blockchain related projects or roles. With over half a million staff listed on LinkedIn, this IBM statistic shows that 0.1% of their staff are working on Blockchain technology in some way, shape or form. Although this is not completely accurate data for several reasons it is a very clear indication of how many people are now dedicated to roles in Blockchain and Cryptocurrencies.
Although the state of the Cryptocurrency markets dominate news at the moment, there are still some very positive stories to be shared. It is really important to remember just how much of an impact both Cryptocurrencies and Blockchain have had and how young this industry still is. There is so much more to come…. watch this space.