Bitmain

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Bitmain Technologies Ltd.

logo
legal form under private law
founding 2013
Seat Beijing
management Jihan Wu and Micree Zhan (founders)
Branch Chip manufacturing for Bitcoin mining
Website www.bitmain.com/en

Bitmain Technologies Ltd. is a 2013 founded privately owned company, headquartered in Beijing , China, the application-specific ASIC chips for the Bitcoin - mining operation developed.

history

Bitmain was founded in 2013 by Jihan Wu and Micree Zhan. Prior to founding Bitmain, Wu was a financial analyst and private equity fund manager , and Zhan ran DivaIP, a startup that enabled users to stream television to a computer screen through a set-top box.

By 2018, the company had become the world's largest developer of application-specific ASIC chips for Bitcoin mining. The company also operates BTC.com and Antpool, historically two of the largest pools for Bitcoin mining. In an effort to raise Bitcoin Cash (BCH) prices, Antpool "burned" 12% of the mined BCH by sending it to irretrievable addresses.

Bitmain was reportedly profitable in early 2018 with net income of $ 742.7 million for the first half of 2018 and negative cash flow from operating activities. TechCrunch reported that unsold inventory increased to $ 1 billion in the second quarter of 2018.

Bitmain's first product was the Antminer S1, an ASIC Bitcoin miner that generates 180 GH / s while consuming 80–200 watts of power.

As of 2018, Bitmain had 11 mining farms in operation in China.

Bitmain was involved in the split of Bitcoin Cash in 2018 and sided with Bitcoin Cash ABC on the side of Roger Ver.

In December 2018, the company laid off around half of its 3,000 employees. Since then, the company has closed its offices in Israel and the Netherlands, while significantly downsizing its mining operations in Texas.

In February 2019, Bitmain had lost "about $ 500 million" in the third quarter of 2018. Bitmain denied this.

Web links

Individual evidence

  1. ↑ Joon Ian Wong: China's Bitmain dominates bitcoin mining. Now it wants to cash in on artificial intelligence. Retrieved May 27, 2020 (English).
  2. ↑ https://technode.com/2018/08/13/worlds-largest-bitcoin-mining-company-bitmain-plans-an-ipo-greater-than-facebooks/
  3. ↑ https://techcrunch.com/2018/09/27/bitmain-ipo-concerns/
  4. ↑ https://www.bloomberg.com/news/articles/2018-11-16/bitcoin-cash-clash-is-costing-billions-with-no-end-in-sight
  5. ↑ 比特 大陆 回应 2018 年 Q3 财 报 亏损 约 5 亿 美元: 传闻 不 实 _ 财经 网 - CAIJING.COM.CN. Retrieved May 27, 2020 .