BITMAIN is one of the leading companies when it comes to offering Crypto mining technologies. In September 2018, they filed for an initial public offering and closed the pre-IPO round with the amount of $1 billion. But their first attempt to go public through the Hong Kong stock exchange was a failure.

However, they have maintained their stake in the global market share and have remained one of the leading players in the digital currency mining game. The Beijing Based company was valued between $40 to $50 billion before its initial public offering.

Whether it is your cryptocurrency portfolio or your knowledge, if you want to increase either of them, this article can serve as a simple guide about BITMAIN.

What Is BITMAIN?

BITMAIN is the leading manufacturer of digital currency mining servers. ANTMINER, the brand of BITMAIN, offers mining servers to many clients globally. They have a leading market share, and they serve customers from more than 100 countries globally. They have their subsidiaries spread across China, Singapore, the United States, Malaysia, Kazakhstan, and more.

BITMAIN is famous for offering state-of-the-art, energy-efficient tech in the digital currency mining industry. Their advanced computational infrastructure benefits many miners across the world; they are undoubtedly the dominators in the equipment business.

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BITMAIN Company History

When BITMAIN was founded in 2013, the company mass-manufactured the first BTC miner called ANTMINER S1. Later, in 2014, BITMAIN went on to launch more versions of the previous BTC miner. They were named – ANTMINER S2, S3, S4, and S5. They also launched ANTPOOL in that year

BITMAIN also topped the market for manufacturing mining servers in 2015. Later, they advanced further by launching their cloud mining service, Bitdeer. Currently, BITMAIN has a BTC miner called ANTMINER S19 XP. They have even promoted hydro-cooling containers and miners.

How Does BITMAIN Make Money?

One of the major sources of BITMAIN’s mining is through their mining rigs and the equipment they sell. They make their own chips for mining rigs and sell those to the end customers. BITMAIN uses the rigs in their farms for mining cryptocurrencies.

In fact, it is the dominating business when it comes to making and selling equipment for cryptocurrency mining. BITMAIN estimably owns 80% of the market for the equipment made for mining Bitcoin. Some of the top players in the industry favor the Application-ASIC chips manufactured by ANTMINER, which is associated with Bitcoin.

Every time BITMAIN announces the development of ASICs for any particular cryptocurrency, investors consider it as a sign that the coins circulating in the market to increase in number. BTC.com and Antpool, two of the largest mining pools for Bitcoin, are also run by BITMAIN.

So, it is no wonder that BITMAIN has some reasonably good ways of making money from the Cryptocurrency and Blockchain market.

What Is The Future Of BITMAIN?

Cryptocurrency mining rig manufacturing is one of the main sources of earnings for BITMAIN. But does that mean it will have an impact on the future market? If you are thinking of investing in BITMAIN, then you are out of luck since the company is still private and is yet to go public.

Their initial effort to go public failed in 2018 and lapsed in 2019. However, the cryptocurrency mining services company BitFuFu, which BITMAIN backs, is supposed to go public in the US.  

They have, however, diversified their ways of generating revenue through AI-related projects. In fact, their Sophon BM1680 chip supposedly promises to enhance the speed of machine learning algorithms.  Jihan Wu, the founder of BITMAIN, has stated that they will generate 40% of their revenue from AI chips.

BITMAIN’s Product Excellence

However, the company has multiple other reasons for excelling in the market. Go through these points regarding their excelling product offering –

• The company is dead set on providing the world with a worldwide blockchain network amped up with futuristic computational infrastructure & solutions.
• ANTMINER products have been a success for BITMAIN. ANTMINER S9 is an example of their steady operating mining equipment.
• BITMAIN has been facilitating stable production of mining rig equipment even during market fluctuations. They have been providing industry-standard minion equipment  together with their suppliers.
• BITMAIN will keep succeeding thanks to its adherence to the R&D concept. They show grave concern about their product quality and earnestly invest in improving the product development from the very early step of product development.
• Customers from around the world can avail of agile customer services 24/7 thanks to BITMAIN’s great after-sales service network.

According to the claims of Coindesk, BITMAIN can go toe-to-toe against the semiconductor giant companies from the US and China. BITMAIN has taken only a decade to capture 8% of the domestic market for chip design. This is impressive compared to Huawei HiSilicon, which took 14 years for a 17% share.

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Bottom Line

When it comes to investing in Cryptocurrencies, lots of us back away since they are volatile. It is only reasonable to hesitate. However, if you are looking for something more concrete, consider BITMAIN ( only if they come public ) in the future.

Since they manufacture and sell mining equipment for cryptocurrency mining, they are likely to have a long run in the industry. BITMAIN possession of two of the largest Bitcoin mining pools also makes it a valuable option. But, since it is still a private company, investors have to wait until they come public.

I hope you have found the necessary information you were looking for. However, please let me know if you have any queries about them. I will get back to you in a minute.

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