The world's largest cryptocurrency mining company has billions of revenue

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According to Fortune Bitmain, the leading company of cryptocurrency mining cited an audit conducted by the company KPMG in which reported net profits of $ 1,100 million in the first quarter of 2018 that would be at least 35% of the benefits obtained in 2017. According to the estimated analysis reported on CNBC, the company generated between $ 3,000 and $ 4,000 million in profits in 2017, matching the benefits generated by Nvidia.

Bitmain, the leading company in the field of mineral cryptocurrencies.

Bitmain Technologies Ltd. ( Bitmain ) is a company based in Beijing, China, with offices in the United States, Israel, the Netherlands and Switzerland.

• Developer of specialized chips for c extraction of cryptocurrencies. Their 16 nanometers nanometers ( nm) are one of the most efficient on the market when it comes to power consumption and hashrates.
• Manufacturer of cryptocurrency mining equipment called ASIC ([19659004] application-specific integrated circuit ) for both wholesale and retail trade. Their ASICs known as Antminer, depending on the model, can extract the most popular and profitable cryptocurrency algorithms such as Bitcoin (BTC), Ethereum (ETH), Litecoin [19659005] (LTC) and Zcash (ZEC), among others.
• Developer of own cryptocurrent mining farms which has one of the largest agricultural holdings in the world, located in China.
• Host of the cryptocurrency mining pool called AntPool y BTC.com . These pools report 30.1% of the global Bitcoin hashro in addition to other cryptocurrencies. Mining pools generally apply a commission of 1% of the revenue generated by cryptocurrencies.

Bet of the CEO of Bitmain

At only 32 years old, Jihan Wu is one of the richest people in the blockchain industry. According to Fortune Wu revealed that his company plans to implement Initial Public Offering (IPO) on the Hong Kong Stock Exchange. The IPO would have granted some of the company's early investors, including Sequoia Capital and IDG Capital, the opportunity to make a profit on their initial investment.

The decision of the company was estimated to about $ 14,000 million today, attracted the attention of investors from around the world. The company's rating exceeds nearly 5 times its 2017 profits, although its benefits could reach $ 4,000 million in 2018, according to the latest financial results of Bitmain before they became public. [19659061] Jihan Wu at a conference about the Ico, source: twitter.com

The industry in growth of the extraction of cryptocurrencies

The extraction of cryptocurrencies is increasing. New technologies and the emergence of new players have made the sector increasingly attractive to investors who want to get involved in the industry. Recently, Bitmain has developed a "highly efficient" ASIC for Zcash that far surpasses the GPU miners (RIG). There are also other projects such as Swiss Alps Mining which was financed through a ICO to develop a new efficient model of mining cryptocurrency.

The price of Bitcoin has decreased, but the industry continues to grow

The decline in bitcoin since January 2018 seems not to have hit the largest mining company in the world, which will soon have its IPO to invest formally in the sector. It should be noted that according to Ethereum co-founder Vitalik Buterin, the industry will not grow by the amount of invention it has, but for its level of implementation.

I think there is too much emphasis on BTC / ETH / any ETF, and not enough emphasis on making it easier for people to buy from $ 5 to $ 100 in cryptocurrency via cards in corner stores. The former is better for the pumping price, but this last is much better for the actual adoption.

– Vitalik Non-giver of Ether (@VitalikButerin) 29 July 2018