According to Bernstein semiconductor team analysts, Bitmain, a manufacturer of cryptomining equipment, may have made as much as $4B in operating profit last year. Compare this to Nvidia and their $3B in operating profit last year. Bitmain has gone from a small time, unknown operation, to a powerhouse in the cryptcurrency market in just four years. Also, in addition to their manufacturing they also mine bitcoin and run mining pools. You have to hand it to the founders of Bitmain because they have truly gone from rags to riches on the back of the cryptocurrency market.



Today, Bitmain sells Antminer bitcoin mining rigs that can cost several hundred dollars to a few thousand dollars each. The company also operates “mining pools” in which participants collaborate on bitcoin mining in order to cut costs. As a result, Bernstein estimates Bitmain has 70 to 80 percent of market share in bitcoin miners and asics.

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Source: [H]ardOCP – Bitmain May Have Made as Much as Nvidia Last Year