Chinese company earns billions of dollars from selling cryptocurrency miners


Chinese company earns billions of dollars from selling cryptocurrency miners

Chinese company earns billions of dollars from selling cryptocurrency miners

Bitmain, the Chinese company active in the field of cryptocurrency mining, despite the record price of digital currencies, in the first 6 months of this year, it had more revenue than last year. . This company, which produces and implements cryptomining software, filed an initial public offering report on the Hong Kong Stock Exchange on Wednesday.

In this report, it is stated that the company’s revenue in the first 6 months of the year was 2.8 billion dollars, which is much more than the 2.5 billion dollar revenue in 2017 and the 317.3 million dollar revenue in 2015. have been. This company has sold its products to more than 80,000 individuals and legal entities, and 94% of the company’s revenue has come from the sale of mining hardware.

The global market of cryptocurrency, i.e. encrypted currencies, has experienced a 75% decrease compared to January of last year, when it reached its peak value. However, Bitmain’s 6-month income at the beginning of this year was higher than last year’s total income.

According to Frost & Sullivan, about 74.5% of the cryptocurrency mining hardware market share is held by Bitmain. The company also has 11 mining farms (data centers that focus on cryptocurrency mining) across China and manages two of the world’s largest mining pools. Bitmain is currently looking to develop microchips for artificial intelligence is.

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