Bitmain Is the Most Important Bitcoin Company
Even in a crypto correction, Bitmain can turn into a giant
Michael K. Spencer BlockedUnblockFollowFollowing Jan 10
When we think of crypto in the West we think of Coinbase, Gemini, ConsenSys or Binance. But it's actually Bitmain that is the most impressive.
Like so many verticals, it's actually Chinese companies that are at the head of the pack. Very soon, China is widely expected to overtake the U.S. economically. Seven of the world's top 10 economies by 2030 will likely be current emerging markets. Chinese companies will be fueling their growth and their vibrant consumer base.
In January, 2019 crypto is
2019年1月加密only worth $122 Billion. Bitmain is valued at around
。 Bitmain的价值在附近$15 Billion and amid a Hong Kong IPO attempt, is
attempt, is restructuring its executive leadership in early 2019. With Bitcoin's rapid drop in price in 2018, besides NVIDIA, it was Bitmain that was likely the hardest hit. Still, let's not forget the company grossed more than $2.5 billion in revenue in 2017, a near-10X leap on the $278 million it claimed for 2016, while sales in the first six months of last year surpassed $2.8 billion.
Bitmain is the Sleeping Giant of Crypto
Bitmain is estimated to supply around three-quarters of the world's crypto mining machines.
Bitmain needs to pivot in 2019 and it has the cash to do it. Bitmain was on target for
Bitmain需要在2019年转移，它有现金来做。 Bitmain是目标$10 Billion in profits in 2018, and while it's debatable if it even approached that due to the crypto correction, Bitmain as a company has immense potential.
Bitmain is primarily thought of as a Beijing-based mining equipment seller. If you are Beijing based and your founders are leaving, it can only mean one thing. The Chinese Government has gotten to you, and now it can turn Bitmain into a giant of its own making. This means new access to funding and strategy, and R&D.
When Bitcoin was higher, a Bitmain IPO could have even valued it at valuation between $40--50 billion. It is basically the We Company (formerly WeWork) of Bitcoin.
当比特币价格走高时，Bitmain IPO甚至可能估值在40-50亿美元之间。它基本上是比特币的We Company（以前的WeWork）。
When and if Bitcoin rises again from the ashes of 2018, Bitmain will instantly become one of the most important crypto startups again.
In June, 2018
In June, 2018 Bitmain did a funding round of $400 Million. Bitmain is the world's dominant producer of cryptocurrency mining chips known as
。 Bitmain是世界上主要的加密货币采矿芯片生产商ASICs, or Application-Specific Integrated Circuit. It was founded by Jihan Wu and Micree Zhang in 2013. Both of these
或专用集成电路。它由Jihan Wu和Micree Zhang于2013年创立。两者都是founders will be history soon. Wu was just 28 at the time.
So just how tethered to Bitcoin is Bitmain's revenue?
那么比特币如何拴在Bitmain的收入上呢？ Bitmain / TechCrunch
Bitmain / TechCrunch
Bitmain is the definitive cash-cow of crypto. Forget Ethereum or ConsenSys or EOS, this is epic.
Bitmain has also begun to design ASIC chips for artificial intelligence-related applications, and (former) CEO Jihan Wu has said that this field could account for 50 percent of the firm's revenue within five years.
Here we get an idea of how important Bitmain could one day become. At the intersection of crypto and artificial intelligence, a new breed of companies will rise from the coin and software death ocean of ICOs. Bitmain is Bitcoin Earth, and it can like a Chinese historical drama aspire to the throne of Bitcoin Heaven.