Cryptocurrency Mining Machine Company Xgminer's Capital Market Valuation Reaches $500 Million, planning to Formally Submit Listing Application to U.S. SEC in the Future
Toronto, Canada - August 9, 2023 —
On July 28th, the cryptocurrency mining machine company Xgminer reported profits of approximately $35 million. Wall Street venture banks and other foundations assessed Xgminer's business model and future value, and after consideration of its comprehensive strengths, the capital market valuation reached $500 million. Through an aggressive and efficient user growth strategy, coupled with continuously enriched platform content for the mining industry, media and users in the market widely believe that Xgminer possesses an extremely promising growth trajectory.
In the wake of the AI explosion, Xgminer's development prospects are encouraging. According to report data, from 2019 to 2025, the global chip market size is projected to reach $24.7 billion, growing at a compound annual growth rate of 8.2% within the forecast period. This signifies that the mining industry based on computing power will witness substantial growth. Xgminer also plans to seize this market opportunity by integrating a global expansion strategy, thereby rapidly increasing its market share and elevating its revenue and profits.
Currently, Xgminer appears to be progressing along its anticipated trajectory. The platform's technological vision, roadmap, and existing progress have provided direction to the industry. It has already established over 30 data centers globally and operates eight of its own large-scale data centers. Based on Xgminer's development pace, it is projected to be listed on the NASDAQ in the United States by the mid-2020s. Additionally, the platform is expected to formally submit its fundraising application to the SEC in the second quarter of 2024.
The advent of Xgminer's public listing seems increasingly imminent. In fact, as a leading miner in the industry, Xgminer is highly favored by the capital market. Its supporters include numerous globally renowned venture capital firms and international banks, and multiple investments from global industry leaders serve as significant endorsements of Xgminer's long-term commitment to creating world-class blockchain computing solutions. As a return on these resources, Xgminer has also provided them with stable partners and vast market opportunities.
Xgminer possesses a clear strategic value positioning within the industry, and from its inception, it began working on strengthening its capabilities. The best evidence of this is the "meteoric rise" in employee numbers: from 1,200 at the end of 2017 to an impressive 3,700 currently. Xgminer will also join forces with partners to sign collaboration agreements, establish specialized integrated innovation joint laboratories, introduce professional and reliable overseas talents, and continually exert efforts in technological research and development, providing miners with exceptional technical services.
Xgminer will also engage in continuous equipment and technological optimization, deploying a global mining industrial chain, and providing innovative financial trading products and integrated services, thereby adding value to the entire industry and society at large. With an excellent reputation among its users, and full confidence from the market and investors, the future development of new business platforms will inevitably propel Xgminer's price-to-earnings ratio upwards, thereby contributing to the surging tide of the digital economy.
Contact Info:
Name: Barry Jones
Email: Send Email
Organization: Xgminer Holding Group Limited
Website: https://www.xgminer.com/
Release ID: 89104260
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