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Although the Chinese government set off a sweeping set of bans that effectively ended cryptocurrency trading in the country near the end of last year, the blockchain industry within the country is still steadily growing–even thriving, by some accounts.
A Chinese company that has benefitted massively from the world’s crypto craze is Bitmain Technologies Ltd., a Beijing-based company that has raked in record profits for selling chips used in crypto mining. The company reported $3.5 billion in revenue in 2017, going toe-to-toe with Nvidia, its much larger rival company.
“We feel lucky,” said co-chief executive Jihan Wu in an ... (read more)