Bitmain Generated $2.3B Revenue in 2017

Mining equipment manufacturer giant reported on great revenue in 2017
05 February 2018   359

The 2017 sales of Bitmain reached an amazing 14.3 billion yuan ($2.3billion USD) point and it becomes China’s second largest IC design company.Monthly profits of Bitmain in 2017 was up to $30 million USD and they achieved a net profit of more than 1 billion yuan in the first half of 2017. This is reported by 8BTC.

Bitmain had also designed and mass-produced a variety of different ASIC chips with the advanced quantity production technology in full-custom designed 28nm, 16nm, 12nm integrated circuit, the series of BM chip used in cryptocurrency miner could be the most representative one. Bitmian sales hundreds of thousands miners every year, each miner needs hundreds of ASIC chips, for example, an AntMiner S9 needs 189 ASIC chips.

Russians, together with Indians and residents of European countries, are more often than others on the list of customers of mining equipment sellers and usually pay in cash.

One of the most popular Bitmain products is AntMiner S9. On the official website, the miner costs 14,000 yuan ($ 2,300).

BitKan to Raise $10M in a Series B Funding Round

The round was led by Zhongyunhui Capital, IDG Capital and Bitmain
04 April 2018   122

Based in China's Shenzhen, the start-up BitKan attracted an investment of $ 10 million during series B financial round, reports CoinDesk.

The round was headed by the Chinese financial company Zhongyunhui Capital. Among other participants - IDG Capital and the world's largest manufacturer of mining equipment Bitmain. The latter had already invested in this start-up - in the spring of 2016, during the series A r financing round, the Chinese giant invested $ 1.6 million in BitKan.

According to representatives of BitKan, the funds raised will be used to expand the business and create a platform called K Site, the beta version of which is scheduled for April 20.

The new service is a platform where users exchange their generated content for KAN tokens. According to representatives of BitKan, the site will mark a step towards a higher quality of content and will be of great importance in an environment filled with "fake ICO and scams".

Free content can only attract page views, but putting up a paywall can improve content quality considerably.

Yu Fang

CEO, BitKan

As part of the expansion of its operations, the company also plans to open offices in Hong Kong, Singapore and Tokyo.

The BitKan platform was founded in 2012. Initially, the startup specialized in over-the-counter trading operations, providing data on the prices of cryptocurrencies an wallets.