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Top crypto mining equipment maker powers through bitcoin meltdown

China's BitMain reveals financial results as it files for Hong Kong IPO

Under its Antminer brand, BitMain has captured three-quarters of the global market for crypto mining hardware.   © Reuters

TOKYO/HONG KONG -- Prices for bitcoin and its rivals may have been plunging through the first half of the year, but for BitMain Technologies Holding, the world's largest producer of the hardware used to create more virtual money, times were still good.

Beijing-based BitMain, which on Wednesday filed an application to list its stock in Hong Kong ending months of speculation about its intentions, recorded $2.85 billion in revenue for the first half of the year in its draft prospectus. That compared with revenue of $274.45 million for the same period last year.

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