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
Blockchain Life 2018
November 15th, 2018

In Russia, St. Petersburg took place one of the largest international blockchain, cryptocurrency and mining forum – Blockchain Life 2018.

Europe-based Crypto Mining Startup Bitfury Plans for an IPO
October 26th, 2018

Bitfury is exploring a range of minority options like selling a minority stake or raise debt financing, to go public.

Crypto Mining Giant Bitmain Files for IPO, Opens Up the Company Books
September 27th, 2018

As the company files for an IPO, it gives complete details on its corporate dealings, revenues and profits, as well as its operations across the globe.

Bitmain Adds Ethereum and Ethereum Classic to its BTC.com Mining Pool
August 31st, 2018

The most valuable crypto firm in the world, Bitmain, has revealed that its BTC.com subsidiary will soon open Ethereum and Ethereum Classic mining pools.

Investors Deny Participation in Bitmain’s Funding, ‘World’s Largest IPO’ on the Edge of Failure
August 22nd, 2018

Few days after SoftBank and Tencent disputed their involvement in a widely reported pre-IPO investment round of Bitmain, DST Global denied investment in the giant’s IPO as well.

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