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Bitmain's Profits Soar; Analysts Estimate 3 Billion Dollars In Revenue

Today, it was informed that Bitmain, the Beijing based startup that makes mining rigs, has achieved operating profit about 3 billion dollars.
The owner of the Antminer popular brand was reported to achieve this goal in only 4 years since operations started. According to the report, Nvidia profited the same amount, but that took it more than 20 years of labor. These estimates were made by Bernstein Research, a Wall Street research and brokerage firm.
Bitmain has benefited from the mining boom and the craze that reached its peak last year when bitcoin prices reached all-time highs. Most revenue of Bitmain comes from the sales of their Antminer rigs, with minor profit coming also from the mining pools fees. The research firm also stated that Bitmain’s dominance in the mining rig reaches 80% of the market share.
With all this being said, Bitmain monopoly should continue, because some key products will be launched. The release of the successor of the Antminer S9, its signature consumer product is expected later this year. Executives and shareholders should be very happy.
 

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