On the income of the largest manufacturer of equipment for mining Bitmain
has long been a legend. Thanks to the almost monopolization of the market ASIC Bitmain s got a kind of license to print money. This week, analysts at Bernstein issued a report on the activities of Bitmain. According to the report, the Chinese company last year earned about 3 billion dollars.
Ask any serious miner, ASIC what brand he uses and most likely you will get a definite answer. Bitmain is not just a major player in this game is practically the only option for miners if they want to earn something. Bitmain is a controversial company for a number of reasons, including due to its dominance in the mining market, which is contrary to the principles of decentralization. However, ASIC-key this company is appreciated for reliability, efficiency and high performance.
If the data is accurate Bernstein, Bitmain in the past year has earned as much as Nvidia. However, the difference is that Nvidia is a company with a world name, but that’s about Bitmain is rarely heard outside of the crypto space. According to estimates by Bernstein, Nvidia earned $ 3 billion in 2017, but to reach this level, the company took 24 years; Bitmain achieved the same success in only four years. Neither Jihan Wu, no Mikri Zhang was not mentioned in the recent Forbes list of the richest people in the world who earned cryptocurrency, but there is no doubt that the founder of Bitmain – very rich.
Grey marked units Bitmain who are “generators” of the profits
Pays off like persistence and determination
Despite the fact that the founders of the company, Wu and Zhang have to criticize their vision, perseverance and confidence worthy of respect. They started their business in 2013, when bitcoin was worth nothing like what it is now. The main part of the company’s profit came in the last 12 months, when the price of a cryptocurrency is the number one increased dramatically. During most of this period Bitmain accept payment only in bitcoins, and only recently began to take bitcoin cash.
Bitmain rarely makes public statements and comments. It is not surprising that the company representatives did not comment on the Bernstein report. According to this report, the dominance of Bitmain in the field of bitcoin mining and ASIC production is about 70%. One of the reasons why Bitmain has become so profitable is that they were able to raise the price of their Antminers when he began to increase the bitcoin exchange rate, while production costs remained the same. As a result, the price for one Antminer increased from a few hundred dollars up to $ 5,000 (at the peak) in the past year.
The report predicts that Bitmain will further increase its dominant position in the mining business this year:
Bitmain is likely to remain at the head of the cryptocurrency industry and will start producing equipment on the basis of 10 nm and 7 nm chips chips. .