<p>Cryptocurrency mining giant Bitmain Technologies has reportedly placed a new order to buy 600,000 mining chips.</p> <p>“A supply chain person close to TSMC” i.e. chip-making giant Taiwan Semiconductor Manufacturing Company, <a href="http://www.yibenchain.com/news/show/9514.html">informed</a> about the order to a Chinese news outlet on Friday. The Block couldn't independently verify the report.<br /> <br /> A portion of the <a href="https://money.udn.com/money/story/5612/3956395">chips</a> reportedly includes the latest 7nm model, with a hashrate of 50 Tera hashes per second. Based on the hashrate, Bitmain's total hash power could jump by as much as 50% after six months.</p> <p>The new mining chips are projected to bring as much as $1.2 billion in profits to Bitmain, which could put Bitmain's valuation at $12 billion, per the report.</p> <p>The mining giant has also been <a href="https://www.theblockcrypto.com/tiny/bitmain-plans-to-raise-300-500-million-via-u-s-ipo-later-this-year-report/">planning</a> to go public in the U.S. via an initial public offering (IPO), aiming to raise $300-$500 million. The IPO is expected to launch “as soon as the second half of this year.”</p>