[{"data":1,"prerenderedAt":345},["ShallowReactive",2],{"api/learn-center-post-en-what-is-bitmain":3,"footer-en":55,"learn/company-profiles/what-is-bitmain-en-seo":253,"navigation-en-learn-center":258,"api/learn-categories-en":306},{"seo":4,"locale":22,"breadcrumbs":23,"excerpt":31,"featuredImage":32,"components":37,"title":5,"formattedPublishedAt":48,"geofencings":49,"category":50,"pagination":52,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What is Bitmain?  ","What is Bitmain?  - Crypto Company Profiles","Bitmain is a Chinese-Singaporean company and an industry leader in the manufacture of cryptocurrency mining equipment and related mining operations.  ",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/bitmain_33821b748e_e4515398fd.png","image/png",".png",1920,1080,"bitmain_33821b748e.png","",[],[20],{"pathname":21,"locale":22},"/learn/company-profiles/what-is-bitmain/","en",[24,28],{"id":25,"text":26,"url":25,"asUrl":27},"/learn/company-profiles/","Company profiles",true,{"id":29,"text":5,"url":21,"asUrl":30},"what-is-bitmain",false,"\u003Cp>Bitmain is a Chinese-Singaporean company and an industry leader in the manufacture of cryptocurrency mining equipment and related mining operations.  \u003C/p>\n",{"url":33,"mime":34,"ext":35,"width":14,"height":15,"name":36,"alt":17},"bitstampImageUrl/bitmain_28683f5797_94d53b70a1.svg","image/svg+xml",".svg","bitmain_28683f5797.svg",[38],{"component":39,"props":40,"content":41,"secondaryContent":45,"ctas":46,"secondaryCtas":47,"ctasNoMarginTop":30},"section.full-text",{"centered":30,"withoutSectionContainer":30},{"text":42,"width":43,"align":44},"\u003Cp> \u003Ca href=\"https://www.bitstamp.net/learn/crypto-101/what-is-crypto-mining/\">mining\u003C/a> BTC or other cryptocurrencies requires hash power to solve the \u003Ca href=\"https://www.bitstamp.net/learn/crypto-101/what-is-proof-of-work-pow/\">proof of work (PoW)\u003C/a> algorithm. In the earliest days of cryptocurrencies, this hash power could be generated using general-purpose hardware such as CPUs or GPUs. However, as the Bitcoin network has grown, the mining difficulty has increased, so only specialist hardware, known as application-specific integrated circuits (ASICs), can generate the necessary hash power.  \u003C/p>\n\u003Cp>As of 2024, Bitmain dominates the global markets for the production and sale of ASICs worldwide.  \u003C/p>\n\u003Ch2>History of Bitmain\u003C/h2>\n\u003Cp>Bitmain was founded in 2013 by Jihan Wu and Micree Zhan. Amid a bull market, Wu had decided that mining \u003Ca href=\"https://www.bitstamp.net/markets/btc/eur/\">BTC\u003C/a> would be more profitable than buying it but was unsatisfied with the quality of mining equipment on offer. He engaged his colleague Zhan in the technical task of building an efficient mining device, and the Antminer S1 was launched in November 2013. \u003C/p>\n\u003Cp>The crash in BTC prices following the news of the \u003Ca href=\"https://www.bitstamp.net/learn/crypto-101/what-is-mt-gox/\">Mt.Gox\u003C/a> hack in 2014 had the effect of causing most of Bitmain’s competitors to pull out of the market. By the time the next bull market came around in 2017, the company was well-established as the most dominant manufacturer of Bitcoin mining equipment.  \u003C/p>\n\u003Cp>By this point, Bitmain claimed to control over three-quarters of Bitcoin ASIC sales and 85% of crypto ASIC miner sales. In the same year, the company closed a Series A round worth $50 million. The next year, it raised over $700 million in Series B funding with a valuation of $14.5 billion.  \u003C/p>\n\u003Cp>Around this time, the company also tried to launch an IPO on the Hong Kong stock exchange, which ultimately failed.  \u003C/p>\n\u003Cp>Between 2019 and 2021, Wu and Zhan were in a power struggle over control of the company, with Wu trying to oust Zhan publicly. However, in January 2021, Wu himself announced he was stepping back from the company, stating that the disagreement between himself and Zhan had been “finally settled in an amicable and, more importantly, a constructive manner.”  \u003C/p>\n\u003Cp>As part of the agreement, the company’s cloud mining subsidiary Bitdeer and the BTC.com mining pool were both spun out from Bitmain, and Wu took over both as Chairman. Both companies were later acquired by another company. \u003C/p>\n\u003Cp>As of 2024, Micree Zhan still serves as the Bitmain CEO. The company is based in Singapore.  \u003C/p>\n\u003Ch2>Bitmain products and operations\u003C/h2>\n\u003Cp>Bitmain operates several businesses that are predominantly focused on Bitcoin mining hardware and mining operations.  \u003C/p>\n\u003Ch3>Bitmain mining equipment\u003C/h3>\n\u003Cp>Bitmain’s flagship product is the Antminer series of Bitcoin miners, which it has regularly updated over the years to handle the increasing hash power demands of the Bitcoin network as its difficulty algorithm continues to grow. Mining equipment has also become more efficient, consuming less energy per terahash due to improvements in chip capabilities and cooling technology. \u003C/p>\n\u003Cp>The first edition of the Antminer, the S1, was released in 2013 with a hash rate of 180 gigahertz per second. Subsequent releases following a sequential number order until the most recent as of 2024, the S21, which operates at up to 473 terahertz per second for the highest specification model.  \u003C/p>\n\u003Cp>While the Antminer only supports Bitcoin’s SHA 256 algorithm, Bitmain also produces mining equipment based on other algorithms. For instance, the \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-litecoin-ltc/\">Litecoin\u003C/a> miner supports the Scrypt algorithm, which can also be used to mine \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-dogecoin-doge/\">DOGE\u003C/a>.  \u003C/p>\n\u003Cp>In September 2024, Bitmain announced the expansion of a partnership with Bitcoin mining company Hut 8. Under the new agreement, the firms will jointly launch a next-generation ASIC miner that features a liquid-to-chip cooling mechanism, making it more efficient and consuming less energy per terahash.  \u003C/p>\n\u003Cp>As of 2024, it’s estimated that Bitmain controls around 80% of the market for Bitcoin mining equipment worldwide. The company has come under criticism from some corners of the Bitcoin community for centralization with accusations of creating a dependency on a single firm for mining activities.  \u003C/p>\n\u003Ch3>Antpool\u003C/h3>\n\u003Cp>Antpool is one of the largest Bitcoin mining pools globally. Mining pools allow groups of BTC miners to pool their equipment to stand a better chance of being selected to mine a block and thus increase revenues. As of 2024, it’s estimated that Antpool has mined around one-fifth of all BTC in the last three years.  \u003C/p>\n\u003Cp>Antpool’s leading position among mining pools has also led to criticism of Bitmain for centralization. At one time, when Bitmain also owned the BTC.com mining pool, it dominated more than \u003Ca href=\"https://www.bitstamp.net/learn/security/what-is-a-51-percent-attack/\">50% of the total hash power\u003C/a> of the Bitcoin network.  \u003C/p>\n\u003Cp>Antpool also mines other coins that still use the proof of work algorithm, including \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-bitcoin-cash-bch/\">Bitcoin Cash\u003C/a>, Litecoin, and \u003Ca href=\"https://www.bitstamp.net/learn/cryptocurrency-guide/what-is-ethereum-classic-etc/\">Ethereum Classic\u003C/a>.  \u003C/p>\n\u003Ch3>BitFuFu\u003C/h3>\n\u003Cp>BitFuFu is a cloud mining service, meaning users don’t need to own mining hardware to participate and can simply lease hash power via the cloud. Leases run for a fixed period ranging from a few days to a year. According to its website, BitFuFu operates 25 mining facilities worldwide and has over 395,000 registered users.  \u003C/p>\n\u003Cp>In 2021, BitFuFu became a strategic partner of Bitmain and subsequently took strategic funding. In March 2024, BitFuFu became listed on NASDAQ following a merger with Arisz Acquisition Corp, a Special Purpose Acquisition Company. However, the company is still considered a strategic partner of Bitmain.  \u003C/p>\n\u003Ch3>AntSentry\u003C/h3>\n\u003Cp>AntSentry is a cloud-based mining operation monitoring and automation system. Miners can connect each of their mining devices to set alerts when the system detects issues or abnormal running conditions, monitor hash rates, carry out firmware upgrades, and schedule batch operations.  \u003C/p>\n\u003Ch3>AntAlpha\u003C/h3>\n\u003Cp>AntAlpha is a lender for institutional mining operations. It enables Bitmain to harness its significant BTC holdings for lending purposes, so the interest can act as an additional revenue source. AntAlpha has developed a technology stack and user interface for institutions that can apply for credit and monitor open positions.  \u003C/p>\n\u003Ch2>Bitmain essentials\u003C/h2>\n\u003Cul>\n\u003Cli>Bitmain is the world’s leading mining hardware manufacturer and operates several related businesses.  \u003C/li>\n\u003Cli>The company was founded in 2013 and established market dominance with its Antminer series of Bitcoin miners, which may account for up to 80% of the total operational network.  \u003C/li>\n\u003Cli>Bitmain also operates the Antpool mining pool, which accounts for around one-fifth of the BTC network hash power in 2024.\u003C/li>\n\u003C/ul>\n","full","left",{"text":17},[],[],"November 1st, 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20 3868 9628","+442038689628",{},{},{"noFollow":30,"isExternal":30,"name":237,"value":238,"isEmail":30,"isPhoneNumber":27,"isText":30,"showOnDesktop":27,"showOnMobile":27,"attachment":239,"geofencings":240},"+1 800 712 5702","+18007125702",{},{},{"noFollow":30,"isExternal":30,"name":242,"value":243,"isEmail":30,"isPhoneNumber":27,"isText":30,"showOnDesktop":27,"showOnMobile":27,"attachment":244,"geofencings":245},"+352 20 88 10 96","+35220881096",{},{},{"noFollow":30,"isExternal":30,"name":247,"value":248,"isEmail":30,"isPhoneNumber":27,"isText":30,"showOnDesktop":27,"showOnMobile":27,"attachment":249,"geofencings":250},"+65 3105 1676","+6531051676",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"description":7,"ogDescription":7,"ogImage":254,"twitterImage":254,"twitterSite":255,"twitterCreator":255,"twitterCard":256,"twitterTitle":6,"twitterDescription":7,"titleTemplate":257},"https://assets.bitstamp.net/msc/_ipx/enlarge_true&f_png&fit_cover&q_85&s_1200x630/bitstampImageUrl/bitmain_33821b748e_e4515398fd.png","@Bitstamp","summary_large_image","%s",{"items":259,"ready":27,"platformButtonText":302,"backButtonText":303,"logInButtonText":304,"signUpButtonText":305},[260,264,268,271,274,277,280,285,288,293,298],{"headerName":261,"sidemenuName":132,"url":133,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":262,"submenu":263,"tag":17},"Institutions",{},[],{"headerName":124,"sidemenuName":124,"url":125,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":265,"submenu":266,"tag":267},{},[],"NEW",{"headerName":147,"sidemenuName":147,"url":148,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":269,"submenu":270,"tag":17},{},[],{"headerName":104,"sidemenuName":104,"url":105,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":272,"submenu":273,"tag":17},{},[],{"headerName":114,"sidemenuName":114,"url":115,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":275,"submenu":276,"tag":17},{},[],{"headerName":119,"sidemenuName":119,"url":120,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":278,"submenu":279,"tag":17},{"geofencing-uk":27},[],{"headerName":281,"sidemenuName":281,"url":282,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":283,"submenu":284,"tag":17},"Markets","/markets/",{},[],{"headerName":109,"sidemenuName":109,"url":110,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":286,"submenu":287,"tag":17},{},[],{"headerName":289,"sidemenuName":289,"url":290,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":291,"submenu":292,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":294,"sidemenuName":294,"url":295,"noFollow":30,"showInHeader":27,"showInSidemenu":27,"geofencings":296,"submenu":297,"tag":17},"Learn","/learn/",{},[],{"headerName":299,"sidemenuName":299,"url":105,"noFollow":30,"showInHeader":30,"showInSidemenu":27,"geofencings":300,"submenu":301,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[307,311,313,317,321,325,329,333,337,341],{"title":308,"url":309,"geofencings":310},"Blockchain technology","/learn/blockchain/",{},{"title":26,"url":25,"geofencings":312},{},{"title":314,"url":315,"geofencings":316},"Crypto 101","/learn/crypto-101/",{},{"title":318,"url":319,"geofencings":320},"Crypto definitions","/learn/crypto-definitions/",{},{"title":322,"url":323,"geofencings":324},"Crypto trading","/learn/crypto-trading/",{},{"title":326,"url":327,"geofencings":328},"Cryptocurrency guide","/learn/cryptocurrency-guide/",{"geofencing-uk":27},{"title":330,"url":331,"geofencings":332},"People profiles","/learn/people-profiles/",{},{"title":334,"url":335,"geofencings":336},"Security","/learn/security/",{},{"title":338,"url":339,"geofencings":340},"Tutorials","/learn/bitstamp-tutorials/",{},{"title":342,"url":343,"geofencings":344},"Web3","/learn/web3/",{},1775055432136]