in ,

Bitmain | What you should know about the Cryptocurrency Mining Giant

Bitmain the cryptocurrency mining giant was founded in 2013 by Jihan Wu and Micree Zhan. Before this two met to start Bitmain, Wu was a financial analyst and private equity fund manager and Zhan was running DivaIP, a startup that allowed users to stream television to a computer screen via a set-top box.
Jihan Wu, after discovering bitcoin was 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 the crypto mining company was founded.
The headquarter of Bitmain is in Beijing, China, with offices in Shenzhen, Shanghai, Chengdu, Hong Kong, Fuzhou, US, Israel, Netherlands and Switzerland.
They are a bitcoin miner and designer of ASIC chips. The company also operates Antpool, historically one of the largest bitcoin mining pools.
According to an estimate of 2017, Bitmain made profit of $3-4 billion in that year alone.
And recently, the largest cryptocurrency mining hardware manufacturer, has reportedly received an extra $1 billion in funding.
The injections of cash come ahead of the company’s initial public offering (IPO) which is tentatively scheduled for later this year.

Table of Contents

Related posts:

What do you think?

Written by Russell


Leave a Reply

Your email address will not be published. Required fields are marked *



Juventus Thrash Bayern Munich in the International Champions Cup

Mesothelioma Disease | What It Is, Signs and Symptoms