Three of the largest cryptocurrency mining equipment manufacturers in the world are planning to raise billions of dollars through initial public offerings (IPOs) in Hong Kong amid declining prices of Bitcoin and other digital currencies, reports Financial Express.
The planned IPOs come amidst a report by U.S. chipmaker Nvidia Corp of a decline in sales to crypto miners to $18 million in the second quarter, as opposed to a projected $100 million in earnings during the period. Nvidia chief financial officer Colette Kress has also painted a bleak picture for the firm's second-half results saying she does not see better revenue contribution from cryptocurrency in the coming months.
“That has raised concerns about the upcoming Hong Kong listings by three Chinese man...
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