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Bitmain 2017 revenue report says the company generated $2.3 Billion Revenue

Feb 03, 2018 Posted /  59724 Views

Bitmain 2017 revenue report says the company generated $2.3 Billion Revenue

It was revealed yesterday that TSMC 12 nm chip production is taken over by Bitmain. This exhibits that how much Bitmain sales have grown over the year as the reports of the company's 2017 profits found that Bitmain made a staggering 14.3 billion yuan which accounts for $2.3billion USD from its last year sales.

China recently planned a crackdown on cryptocurrencies and it's mining business when it banned mining of bitcoin and alike in the country forcing the miners to shift to other nations. Nonetheless, the bitcoin mining mania has remained unabated from the regulations and the rumours as the semiconductor industry has benefited a lot from the craze.

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An early miner of bitcoin says that the monthly profit of Bitmain in 2017 was $30 million USD and they reached a net profit of roughly 1 billion yuan during the first half. Bitmain has one unit focused on developing custom ASIC chips with the advanced production mainly focusing on full-custom designed 28nm, 16nm, 12nm integrated circuit.

Bitmain is one of the major cryptocurrency mining hardware manufacturers with sales figures in millions every year. The need arises because the miners of the cryptocurrency require a BM series chip which is used in cryptocurrency mining. A particular AntMiner S9 requires 189 ASIC chips.

Cryptocurrency mining not only broadens the aspects of cryptocurrency and virtual currencies rather it also helps in the development of other industries as well. For example, TSMC has been generating a maximum of its profit from the foundry. As per the recent quarterly report of TSMC finances, the revenue generated from mining business in one quarter is roughly $375 million which accounts for 5.1% of the entire sales of TSMC.

China is one of the mainlands of cryptocurrency mining and even though the government is trying to impose a ban still the business it quite hot in the Asian nation. The early players like Bitmain have earned a great deal of profit form the industry. The cryptocurrency mining sector has seen rapid growth as the price of cryptocurrency escalated last year. The HPC demand brings by the sustained mining boom is projected to promote TSMC’s revenue in 2018 and becomes a convenient guidance for TSMC while iPhone X reduced their order. It can be said that the benefaction of mining to TSMC is no less than that of a new iPhone, Because of which TSMC can be regarded as one of the big winners in comparison to other foundry manufacturers all around the globe.

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Tags: Bitmain 2017 Cryptocurrency Mining cryptocurrency mining of bitcoin

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