Secretive Chinese bitcoin mining company may have made as much money as Nvidia last year

Secretive Chinese bitcoin mining company may have made as much money as Nvidia last year

6 years ago
Anonymous $v9r5mEH86V

https://www.cnbc.com/2018/02/23/secretive-chinese-bitcoin-mining-company-may-have-made-as-much-money-as-nvidia-last-year.html

A secretive Chinese start-up called Bitmain that dominates the bitcoin "mining" industry likely made as much as chipmaker Nvidia did last year, Bernstein analysts estimate.

Based on conservative estimates of gross margin of 75 percent and operating margin of 65 percent, the analysts calculate that Bitmain made $3 billion to $4 billion in operating profits in 2017. Bernstein's U.S. semiconductor team estimates Nvidia's operation profit was $3 billion during the same period.