Bitmain or Bitmain Technologies Ltd., is a privately owned company headquartered in Beijing, China, with offices in Shenzhen, Shanghai, Chengdu, Hong Kong, Fuzhou, US, Israel, Netherlands and Switzerland. It is the world’s largest manufacturer of ASIC chips for Bitcoin mining. The company also operates Antpool, historically one of the largest bitcoin mining pools.
Bitmain was founded by Jihan Wu and Micree Zhan in 2013. They originally met while Zhan was trying to raise money for the startup, however after discovering Bitcoin and becoming the first person to translate Satoshi Nakamoto’s Bitcoin white paper into Chinese, he approached Zhan for help in developing a new ASIC chip capable of mining bitcoin, at which point Bitmain was founded.
Bitmain is considering an IPO for producing capital to expand its producing hardware. The company completed its $1 billion pre-IPO registration with the Hong Kong Stock Exchange in August, and filed for IPO in September. Bitmain has been reported to be highly profitable, and had a net profit of $742.7 million in the first half of 2018, but operating cash flow is negative. The company grew 328.2% annually from 2015 to 2017.
Roger Ver said ecxlusively in an interview for Coinspeaker, that in few years Bitcoin Cash will outperform Bitcoin because it will enable entire world to use as money in a way that can’t be censored, stopped or controlled.
Owing to the investments made by Bitmain and IDG Capital in Series C funding round, crypto trading platform Liquid.com has become a new crypto unicorn.
Bitmain faced a decline in its 2018 profit margins. However, the company has launched new mining chips in a move expected to put the company back on the profitable track.
The inaugural ANON Blockchain Summit Austria will be held April 2-3, featuring Microsoft, IBM and Accenture plus other big names.
Konstantin Rabin, financial expert and crypto enthusiast, unveils what hides behind Bitmain’s recent decision to cancel mining operaions in Texas explaining what this could mean for the whole industry.
Binance Launchpad lottery rules have been updated. As it has been revealed by the company, it extends Binance Coin holding period implementing a number of others minor changes.
Recent reports show that Coinbase has changed the minimum deposit for U.K. customers. Now the minimum deposit is £1000 staff has confirmed in private e-mails on July 16.
Coinbase’s new tools help the new crypto market entrants get a proper understanding of how seasoned traders use different signals to formulate their trading strategies and make informed decisions.
In recent news, Jamie Dimon from JP Morgan has said that he believes Facebook’s Libra isn’t a short-term concern of an impact on the traditional banks.
Even though Congress tried to inflict damage on Big Tech in hearings related to user data, antitrust concerns and Facebook’s Libra, it seems it has failed. That leaves Silicon Valley with little incentive to change.
Rep. Maxine Waters said she’s planning to call in Facebook CEO Mark Zuckerberg to testify about his company’s new digital currency project Libra. She added that her staff has not made the formal request with Facebook yet, but they plan to do so.
Today’s the second day of Libra hearing. Amid questions of safety, compliance and consumer protection, Marcus kept stressing that Libra project would seek proper approval and registrations with the relevant authorities.