Wall Street Analysts Estimate Bitmain’s 2017 Takings at Over $3 Billion

[kreslik.news]

Bitmain, the Chinese mining hardware producer, made an estimated 3-4 billion USD in operating profit in 2017, according to an analysis made by Bernstein Research.

This figure was based on conservative estimates of gross margin of 75 percent and operating margin of 65 percent, according to a report on the subject by CNBC.

The analysis compares Bitmain to Nvidia, an American artificial intelligence company – the two companies earned roughly the same amount last year, but the latter, a household name in the US, took 24 years to get itself into that position. Bitmain, which is altogether more secretive, took just 4, ... (read more)