Posted April 03, 2020 09:31:53 A miner with an uncanny ability to predict the price of bitcoin will soon become a father.
In fact, his son Feng Min will soon be the first person to own shares in a bitcoin mining operation.
Feng Min, the son of a Chinese mining executive, is a bitcoin investor and has already sold shares in some of the largest miners in the world.
Bitcoin miners are the backbone of the cryptocurrency economy.
Feng Min first gained notoriety for predicting bitcoin prices when he first joined the world of cryptocurrency in 2016, predicting a $100,000 price increase in the first day of trading.
This prediction was so good, it prompted other miners to follow suit.
Feng and his father Feng Shuimin invested in BitFury, a mining company based in Hong Kong.
Feng Shuimin became the second richest man in the Bitcoin world and is now worth an estimated $2.7 billion.
He invested in a mining firm called BitFry, which was founded in 2014.
BitFyre and BitFyres Bitcoin mining operations are located in China.
Fengmin has already invested in mining company BitFray, which is now known as Bifurcate.
BitFyre is a mining operation that uses Chinese-built ASICs to mine Bitcoin, a digital currency that has a fixed supply of 21 million coins.
Bitfray, as of April 2018, had more than 6,200 employees, according to Forbes.
The company had just over $1 billion in assets as of the end of 2018.
Bitfyre has an annual revenue of over $3 billion, and its profits were up to $3.8 million in 2019, according the company’s quarterly report.
The investment in Bitfyres mining operations by Feng Min came after his father, who is also a miner for the Bitcoin mining company, told the media that his son was a “very good trader.”
Feng Min said that his father would have invested $500,000 to $1 million in a Bitcoin mining operation before his death.
Feng said he sold his shares in Bitfyre to his father after the company went public.
The investment in the Bitfyry mining operation came after Fengmin sold his stake in Bitafyre.
According to Forbes, Feng Min invested more than $2 million in BitFYres in March of 2019.FENG MIN and BITFYREMARKETING Fengmin’s family and his son were both listed as investors in Bitfinex, a bitcoin trading platform.
According to Forbes , Feng Min was listed as a director of BitFay.
In March of 2018, Bitfinext was a bit undervalued and was valued at around $200 million.
It was up to almost $300 million by the end a few months later.
In April of 2018 it was trading at around 1,100 BTC per share.
In March, the price was at about $2,000 per share and it had a market capitalization of $4.8 billion.
The price had started dropping in March and had been declining since, dropping below $1,000 in April.
At that point, Fengmin’s father Feng was making $2 to $5 million a month as the owner of Bitfinexp.
Bitfinexs shares traded in the range of $0.5 to $2 per share, and the company was valued around $1.5 billion at the time.FANG MIN IS NOW A MONETARY MAN The price of BTC skyrocketed in May and July of 2018 after Feng Min sold his share of Bitfyrie to his family, Forbes reported.
According a source close to Feng Min who spoke to Forbes about the situation, Feng had been making $250,000 a month working at Bitfyries mining operation, and he was planning to retire.
When the price fell below the $1 mark, he began thinking about selling his shares.
In the end, Feng bought back his shares and decided to sell his shares at a profit of about $1 per share in October of 2018 and April of 2019, Forbes said.FENGH MIN’S PROFITED BITFYYREMOLDING OPERATIONS The value of BitFYs shares dropped to $0 by June of 2018 as it had not risen above $1 for the past 12 months.
FENGMIN SOLD BITFYRY Fen Min was one of the most profitable Bitfyrys investors.
Forbes estimated that his net worth was about $4 million in 2017.FENSION MIN’s OWN SHARES IN BITFYRE MINE Fang Min’s stake in BITfyreMARKETS was sold to his son on April 9, 2018.
After the sale, the value of Feng Min’s shares plummeted to $250.5 million in May 2018.
FANG MIN’SELLS BITFYRIES MINE