Mysterious Chinese Bitcoin Company Makes NVIDIA Like Money Last Year

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Bitmain is a Chinese Bitcoin mining company. It has made a huge fortune out of Bitcoin mining last year. According to the Bernstein analysts, the company has made $3 billion to $4 billion as operating profits in 2017. This is more or less similar to the profits that NVIDIA made last year. Its operating profit is put at $3 billion.

The main thing to note here is that Bitmain took just 4 years to achieve this huge profit margin, whereas NVIDIA was able to reach $3 billion profits last year after being in the business for 24 years. The Bitmain Company is based in Beijing and is founded by Micre Zhan and Jihan Wu in 2013. It is the most popular Bitcoin mining firm in China. It generates Bitcoins using the computing powers. Wu is very popular in the Bitcoin industry.

The company generates its revenue through several parts of its supply chain. The Bitcoin mining was made into a specialized process by a Chinese company in 2013. It sold app-based computer chip cards, asic, or integrated circuits that could mine Bitcoins 50 times faster than the traditional use of video graphics cards.

Bitmain makes money by selling Bitcoin mining rigs and mining pools.

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