Bitmain Generated $2.3B Revenue in 2017

Mining equipment manufacturer giant reported on great revenue in 2017
05 February 2018   796

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).

WeChat to Ban Bitmain's Account

Bitmain is not the first banneed crypto related account; over 30 accounts have been blocked so far
10 September 2018   229

The Chinese instant messenger WeChat has blocked accounts related to the sale of Mining equipment from Bitmain and analysis of movements of cryptology, CoinDesk reports.

In particular, on September 10, the official channel of the manufacturer of Bitmain Mining Equipment "antminersale" got to the "black list" of the service.

Following users' complaints, the platform [WeChat] has reviewed and discovered that this account – without having acquired authorized credentials or licenses – has been publishing and distributing information of relevant businesses it is involved in

WeChat Message

However, the second similar to Bitmain account "antminer_official" is still available in WeChat. Representatives of Bitmain declined to comment on the situation.

In addition, the operator of the Goldcoins channel, who previously published analysis and forecasts of the crypto-currency market, reported problems with access to the account. Delphy project's account is under a ban too. This startup which develops an analogue of the market predictions Augur on the Ethereum's blockchain.

In both cases, WeChat named the same reasons for blocking as for the Bitmain account.

Wecchat, originally developed by the Chinese technology giant Tencent, began blocking media accounts related to the cryptocurrencies at the end of August. According to CoinDesk, over 30 accounts have been blocked so far. WeChat has not yet explained the reasons for the ban.