Bitmain

Company
About Bitmain

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.

Bitmain Details
Operating Status: Active
Business Type: Private
Founded: 2013
Headquarters: Beijing, China
CEO: Jihan Wu
Founders: Jihan Wu, Micree Zhan
Bitmain News
Bitmain Cancels Texas Mining Operations
January 15th, 2019

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.

LTO Network Offers Unique Multi-Layer Architecture and Will List Soon on BitMax.io
January 9th, 2019

European blockchain project LTO Network partners BitMax.io to boost the adoption of blockchain tech significantly improving automating processes amongst organizations through decentralized workflows or Live Contracts.

Bitcoin Mining Chips Manufacturer Canaan Knocks the U.S. Door for an IPO
January 9th, 2019

After facing rejection from the Hong Kong regulators, Canaan proceeds to even bigger crypto market i.e. the United States to laucnh an IPO.

Japanese E-commerce Giant DMM Quits Crypto Mining
January 3rd, 2019

The current market conditions have made Japanese e-commerce conglomerate DMM.com Ltd. Take a decision to shut down its crypto mining business.

Huobi Set to Axe Part of Its Staff Amid Extended Bear Market
December 27th, 2018

Following the recent news about Bitmain and ConsenSys, another cryptocurrency giant, Huobi, has announced its plans for reducing the company’s staff.

Latest Companies' News

The Samsung Blockchain KeyStore wallet expected to act as a “secure and convenient place for your cryptocurrency” and enable users to have full control over their private keys and crypto funds.

While that the cryptocurrency industry is going through a very rough phase, here are the five events expected to set the growth trajectory of the crypto market in 2019.

London Stock Exchange Hooks Into the Crypto Industry Powering Hong Kong-based Exchange AAX

The London Stock Exchange is selling its trade-matching technology to a new cryptocurrency exchange AAX that is based in Hong Kong.

Binance, Huobi and More Announce Support of the Upcoming BitTorrent Token (BTT) Airdrop

The BTT airdrop program is set to start on February 11, 2019, and will continue until 2025, with allocations dispersed yearly. It has already received support from Binance, OKEx, Huobi, and other exchanges.

ING Bank Settles a 5-Year Deal with R3 Corda Enterprise in a Bid to Transit Its Clients to Distributed Economy

Dutch international bank ING has signed a deal with enterprise blockchain consortium R3 for access to R3’s commercial blockchain platform.

Ripple Further Spreads Its Reach Joining Chinese University for Blockchain Scholarship Program

Ripple recently partnered with the Institute for Fintech Research, Tsinghua University to offer scholarships. They aim to sensitize the Chinese young leaders about blockchain’s international regulations.

Exclusive Interview with TRON’s Founder, Justin Sun: We Return Power Back to Users

In this exclusive interview, TRON founder Justin Sun explains what value the project proposes to its users, unveils how it stands out from other initiatives and shares TRON’s future plans.